ISEQ up, buoyed by financials

The Irish index of shares in Dublin was up 8.04 points, or 0.17%, to 4,724.05 this morning buoyed up by gains in the financials.

The main banks were up, BOI added €0.09 to €10.39 and AIB rose €0.03 to €12.38. Anglo recovered after Friday's dip,caused by profit takers selling off after the share rose following last Wednesday's impressive earnings report.The bank's CEO, Sean Fitzpatrick, has announced he is to step down by early 2005.Anglo added €0.05 to €11.35 and Irish L&P bucked the trend, down €0.05 to €11.70.

Elsewhere Kerry group was up €0.05 to €14.90. There is speculation that Kerry's bid for troubled food group Hibernia has been provisionally accepted by KPMG, the company's receiver.

Paddy Power was down €0.03 to €6.95, reversing some of last week's gains and CRH rose €0.04 to €15.56 after a report from Davy Stockbrokers forecast double digit growth for the next two years.

In London, takeover speculation at Manchester United intensified as the club said that Malcolm Glazer, owner of Super Bowl champions Tampa Bay, had hiked his stake to 14.3%. Shares in the club rose to £2.64, up .76%.

On the currency markets this morning the euro is worth £0.696 and $1.203.