Market rises in line with peers

The ISEQ index gained 19.80 points yesterday to close at 3,054.78 in line with other European bourses.

European shares rose as investors snapped up bargains after steep falls in the previous session. The European summit on Wednesday failed to produce any concrete proposals for tackling the region’s debt crisis. EU leaders urged Greece to stay the course on austerity and complete the reforms demanded under its bailout programme.

In the financial sector, Bank of Ireland added 0.3c to 8.4c. AIB slipped 0.4c to 6.4c. Irish Life & Permanent advanced 0.6c to 3.5c, while insurance group FBD Holdings fell 5.3c to €8.14.

In the construction sector, CRH dropped 2c to €14.12. Grafton dipped 1c to €3.10, while Kingspan progressed 13c to €7.33.

In other news, Paddy Power announced new senior management appointments. Shares in the company gained €1.24 to €51.34.