Market rises on low volumes

THE ISEQ index gained 22.13 points to 2,853.96 in quiet trading yesterday as the year-end holiday period moves closer.

European shares added to recent gains while Wall Street also rose with investor appetite for stocks lifted by a number of merger deals and the expected congressional approval of a tax-cut extension.

In the financial sector, AIB added 2.1c to 46c. Bank of Ireland increased 3.6c to 42.3c. Irish Life & Permanent moved up 4c to €1.20 while insurance group FBDHoldings dropped 15c to €5.80.

In the construction sector, the latest PMI for the Irish sector came in at 41.7 in November, down from 42.3 in October and the weakest reading since May, there by reversing recent gains.