Irish stocks soar 7% in dramatic rebound

IRISH stocks staged a dramatic turnaround yesterday soaring by 7% and registering their biggest gains in almost two years.

Stocks increased in value by €3 billion from Friday on a day when the Spanish stock market soared by the most on record, jumping 14%.

European stocks saw their worst drop in nearly 18 months last week but rebounded yesterday with British stocks surging the most since December 2008 as the FTSE 100 climbed 5.2%.