Iseq outperforms EU markets as Greek turbulence likely

European indices ended the week mostly higher, with Ireland 1.1% better off, outperforming the region. Greece closed 2.7% lower after the German Bundestag approved the four-month extension of the bailout programme. Of note, there were rumours circulating late in the afternoon that Piraeus Bank ATMs in Athens were running out of cash, a rumour swiftly denied by its chief financial officer.

Yesterday, the Iseq index was up 78.97 points at 5,977.03.

Irish financials were mixed on the day. However, Bank of Ireland did announce results that were ahead of expectations. The share price reacted strongly by finishing the day up 7.59% to a price of 34c.

Permanent TSB ended down 6.67% and closed at 5.6c, while AIB was unchanged at 7.8c.

In the construction sector, CRH was up 0.86% and closed at €25.31. Kingspan was up by 1.3% to end the session at €17.55.

Ryanair added 1.66% to the share price closing at €10.12. Aer Lingus was also up and closed at €2.25.