Market gains with European peers

THE ISEQ index jumped 42.57 points to 2,943.35 yesterday in line with other European and world bourses.

Stocks in major markets rallied and crude oil prices eased after Saudi Arabia boosted oil output to calm fears of supply disruptions sparked by the uprising in Libya.

In the financial sector, the High Court has approved the transfer of €12bn in deposits out of Anglo Irish Bank and Irish Nationwide. The transfer order to move €8.6bn in deposits from Anglo to AIB and €3.6bn from Irish Nationwide to Irish Life and Permanent was sought by the Minister for Finance under the Credit Institutions (Stabilisation) Act. AIB added 1c to 26c. Bank of Ireland gained 2.5c to 36.9c. Irish Life and Permanent progressed 8.5c to 96.5c, while FBD Holdings advanced a further 10c to €7.60.