Iseq closes on high but banks fall

The Iseq index of Irish shares was 6.32 points ahead yesterday to finish at 3048.17, this despite most major European bourses closing down.

The Spanish IBEX 35 was also in positive territory as hopes increased over a bank bailout deal.

Irish banks were down across the board, AIB fell more than 4% or 0.3c to finish at 6.6c. Bank of Ireland was 0.1c off at 9.8c while Permanent TSB Group closed down 0.2c at 2.8c. Irish insurer FDB Holdings bucked the trend gaining 8c to €8.26.

Construction stocks were mixed as CRH tacked on 5.5c to €13.705. Kingspan was ahead 20c at €6.72. Grafton Group was a laggard on the day, losing 5c to €2.75. In other news, food producer Kerry Group advanced 92.5c to €34.60.