Stocks gain on stimulus hopes

World stocks rose more than 1% yesterday and the euro gained amid optimism the world’s central banks will provide more economic stimulus as the eurozone debt crisis worsens.

The Iseq index closed up 0.5% after a day of steady gains. The main movers on the Irish stock exchange were Independent News and Media and Bank of Ireland which were up 4% and 2% respectively.

The euro gained 0.5% to $1.2640 after hitting session highs of $1.2647.