Market gains in strong trading

THE ISEQ index put in a strong performance to close up 67.33 points to 2,942.

Yesterday’s bank stress test results and the Government’s restructuring plans dominated the Dublin shares market with AIB and Bank of Ireland making big gains while Irish Life and Permanent fell sharply.

In the financial sector, AIB tacked on 2.1c to 21c. Bank of Ireland jumped 9.1c to 31.1c after the bank said it planned to raise additional capital from existing shareholders and capital markets in an attempt to avoid State control. Irish Life & Permanent plummeted 23.8c to 16.7c. The company had not required State aid to date but the stress tests found it needs an additional €4 billion in capital. Insurance company FBD Holdings gained 10c to 7.35.