Market produces modest advance

THE ISEQ index commenced the new week with a modest rise of 9.24 points to 2,981.31.

European markets were generally stronger boosted by a renewed optimism for corporate earnings and an encouraging Chinese trade figures.

The pan-European FTSEurofirst 300 index of top shares was up 0.33% at 1,178, and after reaching a peak of 1,182.80 in early morning trading, its highest since early September 2008.

In the financial sector, AIB dropped 0.6c to 27.5c. Bank of Ireland shed 0.7c to 37c. Irish Life & Permanent gave up 2.1c to 94.9c, while FBD Holdings was 5c stronger at €7.20.

In construction, the latest data from ARTBA (American Road Transportation Builders Association) shows that over $600m was paid out in stimulus funds in January. CRH shares fell 15.5c to €16.53. Elsewhere, Grafton Group advanced 7c to €3.54, while Kingspan tacked on 16c to €6.56.