Slight rebound for Irish market

The Iseq Index rebounded slightly after several days in the red, in line with most European bourses, as Germany’s president signed off on the ratification of the eurozone’s permanent €500bn rescue fund.

The Irish exchange closed 3.6 points higher at 3,272.3.

Financial stocks gained ground as a result. AIB was 0.4c ahead at 6c, Bank of Ireland gained 0.3c to 9.6c, while Permanent TSB Group also added 0.4c to 3c. Insurer FBD Holdings stood firm at €9.85.

In construction, CRH nudged upwards by 0.5c to €15.11. Its US peer, Texas Industries, reported a first-quarter loss of $2.7m (€2.1m) or $0.09 per share, although volumes were strong with cement up 15%. Meanwhile, Grafton Group advanced 3c to €3.35 and Kingspan was up 1.3c to €7.868.

Elsewhere, food producer Glanbia jumped 14c to €6.90. The company announced yesterday that its Nutritionals chief executive, Kevin Toland, is leaving to take up a position as CEO of the Dublin Airport Authority.