Swiss move and recovering commodities see markets gain

European markets continued their recent yo-yo trend, following Wednesday’s down day with strong gains yesterday. 

The key catalysts on the day was an unprecedented move from recovering commodity prices and the Swiss central bank to end its euro-linked cap on the franc. The Iseq index benefitted to the tune of 1.5%, or 78.78 points, to finish at 5,259.38.

Financials remained mixed as Bank of Ireland tacked on 2%, or 0.6c, to close at 30.4c. AIB gave up 0.1c to 7.6c, while Permanent TSB Group finished flat at 6.3c.

Construction stocks rebounded well, with CRH gaining 40.5c to close at €19.60. Kingspan added 12c to €14.15.

Aryzta added 174c to €65.74 in the wake of the Swiss National Bank actions, while Glanbia moved on 43.5c to €13.705.