ISEQ passes 3,000 for first time in nearly two months
The Irish market closed at 3,015 — up by just under 1% on Friday’s close — with the likes of Dragon Oil, DCC, Icon, Kerry Group and Paddy Power among the day’s strong climbers.
European markets, on a whole, rose yesterday on the back of expectations that the US economic recovery will remain on track and as a result ofEU finance ministers approving a new aid package for Greece.
London’s FTSE closed up by nearly 0.5% (reports have also suggested that the London Stock Exchange is considering a merger with the Nasdaq), while the DAX in Frankfurt was up by just more than 0.3%. However, Paris’ CAC 40 index was down by 0.1% at just more than 4,000 points.
Eurozone finance ministers have cleared the next aid injection for Greece and are set to meet next Monday to discuss the second overall bailout package for the troubled country. International credit rating agency Standard & Poor’s warned that the Greek debt relief efforts represent a default; adding that the modest effect on the international markets yesterday could have been much worse if US trading hadn’t been closed for the Independence Day celebrations.
Trading will be closely watched tomorrow amid fears that the negativity surrounding the Greek debt crisis might worsen.
Asian markets started the week well with the Nikkei in Tokyo up by 1% and the Hang Seng in Hong Kong gaining nearly double that. Both performed better than expected.
Back in Dublin; the likes of FBD, Providence Resources, Petroneft, Ormonde Mining and building materials/cement products giant, CRH declined.
