Market gains despite Greek gloom

THE ISEQ closed up 8.97 points to 2,934. Investor sentiment was low, as the possibility of Greek default and its potential impact on other peripheral European countries continues.

In the financial sector, the Irish government has published the Central Bank and Credit Institutions (Resolution) (No 2) Bill 2011. The bill is a permanent replacement for emergency legislation introduced last year and, according to the Minister for Finance, will help ensure the Central Bank has the necessary procedures in place to effectively resolve distressed institutions. Shares in AIB lost 0.1c to 18.4c. Bank of Ireland slipped 1.6c to 18.8c, while Irish Life & Permanent decreased 1.4c to 9.6c.

In the construction sector, CRH gave up 18.5c to €14.995. Grafton Group added 1c to €3.45, while Kingspan was 20c better at €7.10.