European recovery in line with US

THE ISEQ index advanced 12.17 points yesterday to end the session at 2,725.88.

There was a European-wide rebound which tracked gains on Wall Street from the end of last week. Weaker than expected US jobs data on Friday reinforced hopes that the Federal Reserve would inject fresh money into the economy.

In the financial sector, AIB added 2.5c to 42c. Bank of Ireland dropped 2c to 63.1c. Irish Life & Permanent Group progressed 4.8c to €1.60, while FBD Holdings fell 11c to €6.34.

In the construction sector, CRH gained 0.5c to €12.49. Kingspan fell 11.2c to €5.85, while Grafton Group fell 5c to €3.09.

In other news, Clonmel drinks group C&C improved 2.7c to €3.06 ahead of its half-year group interim results today. Glanbia increased 3.5c to €3.53. Elan was 13.9c stronger at €4.32, while Paddy Power jumped 57c to €27.90.