Market ends week with small gain

THE ISEQ index ended the week with a gain of 21.66 to 2,797.01. With negotiations continuing between Ireland and officials from the EU, ECB and IMF, speculation was circulating yesterday as to the possible shape that the restructuring of the banking system could take.

Financial stocks were ahead overall with AIB gaining 1.9c to 43c. The bank said in a trading update that the amount of money on deposit with AIB has fallen by €€13bn since the start of the year. Bank of Ireland was 5.1c higher at 48c. Irish Life & Permanent jumped 21c to 1.15 with FBD Holdings rising 30.1c to €6.07.

In the construction sector, troubled homebuilder McInerney cancelled its listings on the Irish & London stock exchanges following the recent appointment of an examiner to a number of the group's companies. CRH closed 7.5c higher at €14.83, Kingspan advanced 10.9c to €6.35, while Grafton Group dropped 4.2c to €3.13.