Markets hopeful on Draghi remarks

THE ISEQ index moved up 11.26 points to close at 2,666.04 yesterday. The incoming head of the European Central Bank threw the eurozone a lifeline hours before a crucial summit yesterday by signalling the bank would go on buying troubled states’ bonds to combat market turmoil.

Mario Draghi delivered the message that financial markets have been waiting for on ECB intentions as leaders of the 17-nation single currency area struggled to agree a convincing, comprehensive plan to resolve the bloc’s sovereign debt troubles.

In the financial sector, Bank of Ireland was down 0.1c at 10.c. AIB added 0.5c to 7.1c. Irish Life & Permanent shed 0.2c to 3c, while FBD progressed 5c to €6.30.