Markets rise on cautious optimism

The Iseq index gained a further 7.13 points yesterday to close at 3,041.85.

Markets rose on cautious optimism that European leaders were seeking a solution for ailing Spanish banks and as hopes rise that the US central bank willintroduce measures to boost its economy.

In the financial sector, Bank of Ireland added 0.3c to 9.9c. AIB gained 0.4c to 6.9c. Permanent TSB Group was unchanged at 3c, while FBD Holdings slipped 2c to €8.18.

In the construction sector, Grafton Group has announced it is seeking the appointment of an examiner for the wholly-owned subsidiary Atlantic Home Care, which accounts for less than 3% of group revenue. Shares in Grafton advanced 5c to €2.80. CRH dropped 22.5c to €13.70, while Kingspan dipped 8.1c to €6.52.