Market races ahead after EU talks

The Irish market surged ahead yesterday reaching its highest level since September 2008 following the meeting of EU finance ministers where proposals to change Ireland’s bailout terms were discussed.

A formal request was submitted to the Troika to work out the best possible option for Ireland with a view to extending the deadline for repaying bailout loans. The ISEQ Index closed the session up 73.81 points to 3,884.16.

Banking stocks all finished in positive territory with Bank of Ireland gaining 0.4c to 14c and AIB advancing 0.2c to 6.5c. Permanent TSB Group Holdings also rose by 0.2c to finish at 3.51c.

Insurer FBD Holdings fell 36.5c to €12.33.