Market up as bond yields drop

THE ISEQ index gained 18.13 points yesterday to close at 2,726.40. Bond yields dropped sharply, as the ECB continued its bond-buying programme, aiding the recovery of peripheral markets.

In Ireland, seasonally adjusted GDP figures for the third quarter were down 1.9% and GNP fell 2.2%, compared with the previous three months.

In the financial sector, Bank of Ireland dropped 0.2c to 7.8c. AIB slipped 0.4c to 6.6c. Irish Life & Permanent lost 0.3c to 2.2c, while insurance group FBD Holdings was unchanged at €6.35.

In the construction sector, latest data from ARTBA show that highway contract awards declined by 18% year on year in November. This follows a 9% fall in October and leaves the rolling six-month figure down 5% year on year. CRH progressed 1c to €13.39. Grafton Group decreased 0.5c to €2.31, while Kingspan was 1.6c better at €6.15.