Market rises as world stocks rally

THE ISEQ index jumped 34.95 points to 2,972.07yesterday. World stocks rallied and oil prices fell after Egyptian President Hosni Mubarak stepped down, bowing to escalating pressure from the military and protesters.

Prices of gold and US Treasury bonds partly erased early gains as Mubarak’s departure partially revived investors’ appetite for risk. The dollar briefly pared gains, but remained strong against numerous major currencies.

In the financial sector, AIB added 1.1c to 28.1c. Bank of Ireland advanced 2.4c to 37.7c. Irish Life & Permanent rose 4c to 97c, while FBD Holdings added 35c to €7.15.