Market continues modest recovery

THE ISEQ index gained ground for a second consecutive day, climbing 49.96 points to 2,464.66.

It was revealed yesterday that Ireland is to receive better financial terms on the money it has received under the EU/IMF bailout programme, a move which could save the state up to €600m a year in interest payments.

Financial stocks received a boost as plans were announced to introduce eurobonds in an effort to tackle the eurozone debt crisis. Bank of Ireland gained 0.2c to 7.8c, AIB advanced 0.2c to 4c and Irish Life & Permanent was 0.5c higher at 3c.