Market hits highest since May 2010

The ISEQ index soared to its highest level since May 2010 yesterday, to close up 43.92 points at 3,175.86.

Investor confidence was good, as consensus seems to be that an agreement would be reached on the Greek rescue package. Greek officials said that they have done everything asked of them for European finance ministers to agree the €€130 billion package on Monday.

In the financial sector, Bank of Ireland is to receive a €€150 million loan facility from the European Investment Bank — the funds are to be loaned out to small andmedium-size enterprises. Shares in the bank closed up 1.4c at 14c. AIB added 1.5c to 11.7c. Irish Life & Permanent gained 1.4c to 5c, while insurance group FBD Holdings increased 7c to €7.62.