Iseq climbs as budget is unveiled

Markets across Europe and the US gained overall yesterday as signs of a deal to avert a US debt default emerged.

Here, the Iseq climbed 52.19 points to 4322.18 as Finance Minister Michael Noonan delivered his Budget 2014 speech.

Irish bank stocks all ended in positive territory. AIB added 0.1c to 9.7c and Bank of Ireland advanced 0.9c to 24c. Permanent TSB Group Holdings moved ahead by 0.2c to 4c.

In construction, UK builders merchants Bellway reported an 11% rise in revenues, year-on-year. Grafton Group advanced 7c to €7 on the day.

Independent News & Media announced total revenue for the group was -5.6% in the period Jul 1 to Oct 11. Shares in the company gained 0.6c to 7.3c on the slowing decline.