Market surpasses 4,000 points

The Iseq Index continued its recent good run, breaking the 4,000 mark for the first time in five years yesterday.

Media speculation of a takeover of telecom giant Vodafone has rekindled hopes of an upturn in merger activity, and indications are that the ECB will leave interest rates unchanged, with the main rate staying at the record low of 0.75%. The Iseq added 44.77 points to finish on 4,003.04.

The financial sector had a positive day, with all stocks showing modest gains. AIB added 0.1c to 6.8c, Bank of Ireland gained 0.5c, finishing on 15.4c, and Permanent TSB closed on 3.7c, up 0.2c. Insurer FBD rose 45c to finish on €12.25.