Markets recover from losses

Markets recovered somewhat from Wednesday’s losses as the Greek bailout saga continued. The Iseq Index climbed a further 31.8 points to 3300.7.

In the financial sector two of the three main listed bank stocks were in the black, with AIB adding 0.2c to 5.5c and Bank of Ireland advancing 1c to 11.18c. Permanent TSB Group was unchanged at 2.2c. Meanwhile, insurer FBD Holdings jumped 15c to €10.50.

Construction stocks were stronger for the most part with the exception of Grafton Group which gave up 7.7c to €3.651. Sector leader CRH was higher by 12.5c to €13.99, while Kingspan was ahead by 8.2c to close at €8.12.

Elsewhere, members of Glanbia Co-op voted 82% in favour of allowing the co-op to reduce its shareholding below 51%, well clear of the 75% required to approve the proposal. Shares in the company eased back by 6c to €7.90 as a result.