Market advances in line with peers

THE ISEQ index jumped 79 points to 2,520.30 yesterday in line with world markets.

European shares rallied for a second day and safe-haven German bonds fell on reports that European policymakers were preparing more decisive action to tackle the bloc’s sovereign debt crisis by leveraging up the €440bn rescue pot. In New York, stocks also opened strongly on hopes that eurozone officials were making progress with the debt issue.

In the financial sector, Bank of Ireland improved 0.2c to 7.5c. AIB added on 0.2c to 4.2c. Irish Life & Permanent increased 0.6c to 3.2c, while insurance group FBD Holdings gained 5c to close at €6.45.

In the construction sector, CRH advanced 65c to €11.65. Grafton strengthened 7.2c to €2.69. Kingspan was 17.5c stronger at €6.07, while Abbey Group was unmoved at €5.20.

In other news, shares in Irish-Swiss bakery group Aryzta, rose 70c to €33.50 after it paid €92m for Honeytop Specialty Bakery.