Market gains ahead of EU talks

THE ISEQ Index recovered somewhat yesterday as it emerged European Union and IMF officials would begin talks with Irish regulatory authorities today to discuss details of a possible rescue plan.

Significant gains in Greencore and CRH also helped lift the Index out of the red. The Irish Exchange closed up 38.98 points to 2,690.78.

The EU Commissioner for Economic and Monetary Affairs said technical talks to begin in Dublin would focus on both the fiscal position and the need for restructuring the banking sector. AIB climbed 0.5c to 0.39 on the day with Bank of Ireland gaining 0.9c to 0.40c. Irish Life &Permanent was 4.1c higher at 0.86.

In construction, sector heavyweight CRH was a leading riser climbing 37c to €13.88. Grafton Group advanced 7c to €3.05 with Kingspan ahead by 9c to €5.99.