Market closes with slight gain

THE ISEQ index ended the day slightly better yesterday, up 9.31 points at 2,521.97, in line with European and world bourses.

Italy’s long-term borrowing costs soared far above levels seen as sustainable and Germany’sopposition to the creation of euro bonds hit investor confidence, as the euro hit a seven-week low against the dollar.

In the financial sector, the controversial €€7 billion deposits transfer between Anglo Irish and Irish Life & Permanent is proving a discussion point in the sale of Irish Life. Canada Life is in the leading position to purchase the life company. Shares in Irish Life & Permanent remained at 3.1c. Bank of Ireland gained 0.2c at 7.8c, while AIB added 0.1c to 5.9c.

In the construction sector, Grafton dropped 4.3c to €2.28. Kingspan slipped 10c to €6, while CRH was unchanged at €12.32.