Markets maintain steady advance

The Iseq Index advanced 41.20 points yesterday to close at 3,225.17.

Reports over the weekend suggest a major U-turn from ECB president Mario Draghi on burden sharing with senior bank bondholders, with such a policy only to be employed when a bank is pushed into liquidation. In the US retail sales fell for a third straight month in June, a sign the economic recovery is flagging.

In the financial sector, Bank of Ireland added 0.2c to 9.3c. AIB was unchanged at 5.6c. Permanent TSB dropped 0.4c to 2.1c, while Insurance Group FBD Holdings gained 1c to €7.85.

In the construction sector, CRH advanced 45.5c to €15.49. Grafton slipped 10.3c to €2.64, while Kingspan increased 5.5c to €6.45.

In other news, according to reports the Government aims to publish legislation this week to tax online betting, with a 1% turnover tax and a 15% levy on commission from betting exchanges. Paddy Power shares closed up 55c at €53.75.