Market climbs against the trend

The Irish market experienced upward gains, in contrast with global markets yesterday, which were largely in decline as further concerns over Greece’s debt crisis emerged.

The Iseq Index climbed 23.09 points to 3,291.83 on the day.

In the financial sector, Ireland’s three listed banks advanced, with Bank of Ireland announcing that it is to go to the bond markets to raise €500m in three-year bonds as it prepares to exit the State’s guarantee scheme. Shares in the bank added 0.1c to 9.4c. AIB also advanced, up 0.3c to 5.4c, as did Permanent TSB Group, which saw a rise of 0.5c to 2.7c. Meanwhile, insurer FBD Holdings bucked the sector trend, falling 3.4c to €9.35.