ISEQ up as markets await summit

THE ISEQ index ended the week on a positive note, to close up 30.38 points to 2,629.56.

Markets remain on edge as they await this weekend’s summit. European leaders said they did not expect Sunday’s meeting to give an all-cure solution to the eurozone’s debt problems, with regional leaders still divided. Ratings agency Standard & Poor’s said it is likely they will lower the credit rating of France, Spain, Italy, Ireland & Portugal, if the region slips into recession and borrowing increases.

Bank of Ireland added 0.3c to 9.9c. AIB gained 0.1c to 6.5c. Irish Life & Permanent advanced 0.4c to 3.4c, while insurance group FBD Holdings was 15c better at €6.45.

In the construction sector, CRH dropped 3.5c to €13.40, Grafton Group was up 1.5c at €2.74, while Kingspan tacked on 4c to €5.94.

In other news, Elan jumped 41c to €7.96 and Kerry Group progressed 15c to €26.70.