Bank of Ireland shares climb 5% on tracker relief

For the first time, Bank of Ireland has said it may have to put aside more money to meet the costs of the tracker mortgage scandal, but says any additional amount will be “manageable”.

The shares — which, alongside many European banking stocks, got a boost from ECB’s stimulus announcement — surged 5%, as investors interpreted the bank as implying that it was still on course to pay out a dividend in 2018.

The resumption of a dividend had already been delayed on at least one occasion.