Shares rally for third straight day

Shares on the Irish Exchange continued to rally for a third consecutive day in line with most European bourses amid renewed optimism that the crisis is abating.

The Iseq Index finished the week up 20.6 points to 3343.6.

All Irish-listed banks were in the black with both Bank of Ireland and AIB adding 0.1c to 9.9c and 5.5c respectively. Permanent TSB saw a rise of 0.4c to 2.9c on the day. FBD Holdings remained steady at €9.80.

In construction, CRH climbed 12c to €15.65, Kingspan added 4c to €7.85, while Grafton Group bucked the trend falling 13c to €3.43.

Elsewhere, Dragon Oil declined by 32.9c to €7.30. A statement from the company indicated the latest development well on the LAM field offshore Turkmenistan flowed an initial rate of 1,420 barrels of oil per day.