Iseq shrugs off fiscal cliff concerns

Concerns over the US fiscal cliff remain high on European markets, even with better-than-expected US growth figures.

However, in Dublin, the Iseq added 8.80 points to close on 3,396.41

It was another mixed day for the Irish financials, with Permanent TSB up 0.2c to 2.3c and AIB adding 0.01c to 5c.

However, Bank of Ireland gave back Wednesday’s gains, closing down 0.2c to 11.4c. Irish insurer FBD Holdings gained 10c to finish the day on €10.10 on the day.

The construction stocks continued their good run on the whole, with CRH and Grafton Group gaining further ground — the former adding 19.5c to close on €15.04 and the latter gaining 3c to €3.79. Meanwhile, Kingspan slipped back 28.2c to finish on €8.

Elsewhere, Irish exploration company Providence Resources released a year-end statement, stating that the group will be solely focused on drilling offshore Ireland and has organised the company debt accordingly. Shares jumped 43c to finish on €6.95.