Irish shares gain further ground

Shares in Dublin gained further ground yesterday in line with most world bourses and on the back of a successful sovereign bid by the National Treasury Management Agency raising €500m.

The Iseq Index climbed to 3,487.50 points.

In the financial sector, ratings agency Standard & Poor’s reiterated its BBB+/A-2 rating on Ireland with a negative outlook, indicating banks may require more capital. Despite this AIB and Bank of Ireland strengthened by 0.3c and 0.2c to 8.1c and 14.2c respectively. Permanent TSB Group nudged upwards by 0.1c to 4c. FBD Holdings jumped 25c to €10.85. CRH added 7.5c to €14.805, Kingspan gained 28.7c to €8.787 and Grafton Group gained 12c to €4.28. Smurfit Kappa firmed by 1c to €9.96, while DCC was up 10c to €24.47 following upbeat trading statements from Argos and Dixons.