Markets rally on Draghi details

European markets rallied yesterday after ECB president Mario Draghi announced details of the bank’s plan to launch a new, potentially unlimited bond-buying programme to assist struggling eurozone countries in tackling their borrowing costs.

He also left interest rates unchanged at 0.75%. The Iseq Index jumped 53 points to 3,226.9 as a result.

In the financial sector, the main banking stocks were virtually unchanged, with the exception of Bank of Ireland which added 0.6c to 9.3c. AIB and Permanent TSB Group finished at 5c and 2.5c.