Market gains on low volumes

THE ISEQ index gained 7.96 points yesterday to close at 2,669.70. Investors held off trading amid continuing concerns about the prospects of the global economy.

In the US, Federal Reserve chairman Ben Bernanke said that the economic recovery had softened more than expected, and the Fed is ready to take further steps if needed to spur the economy. This prompted a rally in US markets.

In the financial sector, Bank of Ireland shed 1.7c to 74.8c. AIB fell 1.2c to 76c, while Irish Life & Permanent dropped 4.7c to €1.45.