Market gains as concerns set aside

The Iseq Index began the week marginally ahead as concerns across Europe over economic growth outlook and Spain’s debt problems were temporarily set aside.

The Irish exchange advanced just 1.04 points to 3,279.32.

In the financial sector, both AIB and Bank of Ireland’s share prices lifted by 0.2c and 0.1c to 5.5c and 9.8c respectively. However, Permanent TSB declined 0.3c further to 2.9c, while insurer FBD Holdings shed 7c to €9.80.

In construction, CRH was weaker by 16.5c to €14.835, Kingspan added 5c to €8, while Grafton Group nudged upwards by 3.5c to €3.425.

Elsewhere, bookmaker Paddy Power, dropped 13c to €57.60. According to press reports over the weekend, Sportingbet has rejected an offer of 52.5p per share from William Hill and GVC. Meanwhile DCC jumped 16c to €22.56 after it announced the completion of the acquisition of BP’s LPG distribution business in Britain.