Market ends week with modest gain

THE ISEQ index ended the week with a gain of 2.98 points on the day to 2,675.73. After a torrid week in the Irish bond market, yesterday brought some respite.

The yield demanded on Irish bonds fell, dropping 36 basis points after EU finance ministers sought to reassure markets that investors would not have to bear losses on Irish debt.

In the financial sector, the main banks put in strong performances. AIB advanced 5.4c to 38.5c. Bank of Ireland increased 2.4c to 40.8c. Irish Life & Permanent added 4.7c to 87c, while FBD Holdings added 4.4c to €5.77.