Markets maintain keen advance

Markets across the eurozone continued their positive momentum as ratings agency Moody’s affirmed Spain’s credit rating of Baa3, one notch above junk status.

This was largely seen as a positive by investors who were anticipating a downgrade. The Iseq Index gained slightly by 2.1 points to 3,273.16.

Financial stocks remained flat with AIB and Bank of Ireland unchanged at 5.8c and 9.7c. Permanent TSB Group was weaker by 0.3c to 2.4c, while insurer FBD Holdings advanced 3.9c to €9.83.

In construction, CRH jumped 27.5c to €14.15 as data released showed a surge of 15% in US home construction during September to an annual rate of 872,000. Meanwhile, Kingspan declined by 10c to €8.40 with Grafton Group giving up 6.5c to €3.47.

Elsewhere, exploration company Kenmare Resources rose 2.8c to 51.7c, bookmaker Paddy Power gave up 5c to €57.65, while media company Independent News & Media lost 1.5c or 13.64% to 9.5c.