Market advances on BoI plans

THE ISEQ index made a positive start to the week yesterday closing 36.68 points higher at 3,497.17. Bank of Ireland has announced plans to raise €3.4 billion.

The bank is planning a placing, debt-for-equity swap, rights issue and the conversion of some of the Government preference shares. Bank of Ireland increased 11c to €1.91. AIB rose 0.05c to €1.55.

Irish Life & Permanent improved 13c to €3.25, while insurance company FBD Holdings was unchanged at €7.70.