European markets slightly higher

European markets in general moved slightly higher yesterday, however trading volumes were thin which poses questions over the sustainability of any continued uptick. Spanish stocks were the exception to the rule, falling almost 2.5% on the back of a downgrade to Spain’s credit rating.

The euro approached its lowest level against the US dollar in almost two years, trading at ca. $1.2482. The ISEQ index was up 39.60 points to 3143.32.

Financials were relatively unchanged as both Bank of Ireland and Irish Life and Permanent remained steady at 8.7c and 3c respectively. AIB managed a small gain of 0.3c to close at 6.7c. FBD Holdings shipped 10c to 8.10.