Market gains for third straight day

THE ISEQ index rallied for a third consecutive day to close up 14.50 points at 2,881.67.

Other European shares hit a two-week high yesterday morning as investors focused on macroeconomic factors and company earnings and hoped the rebuilding of Japan will boost demand for raw materials. In the US, the economy grew at a quicker rate than previously estimated in the fourth quarter as businesses maintained reasonably solid spending and while corporate profits increased 3.3%, a governmentreport showed.

In the financial sector, AIB was unchanged at 18.5c. Bank of Ireland shed 1c to 26.4c. Irish Life & Permanent jumped 5.1c to 74c, while insurance company FBDHoldings decreased 2.5c to €7.37.