Markets rally across Europe

THE market improved in line with markets across Europe yesterday, more than making up for the slight losses the previous day.

National Accounts Data released by the CSO confirmed 2009 was an extremely challenging year with GDP and GNP figures dropping by 7.1% and 11.3%. However, the figures were broadly in line with economists’ expectations. The ISEQ index gained 45.77 to 3,193.28.

Bank stocks were strong with AIB adding 10c to €1.79, while Bank of Ireland and Irish life and Permanent also saw gains of 8.6c and 3c to €1.46 and €3.10. The sector was helped by news that German Chancellor Angela merkel would support an aid package for Greece as a last resort.