ISEQ shows significant gains

The ISEQ index of Irish finished up 70.99 points to close at 5194.25.

Tullow Oil was up 3c to €1.51 on the back of rising oil prices.

Goodbody Stockbrokers forecast oil prices would remain high in the short term, which while bad news for the economy, is good news for Tullow Oil.

Financials performed strongly with AIB up 16c to €12.08 and BOI up 15c to €10.15.

Earlier Bank of Ireland released its 2003 financial report which saw pre-tax profits up 8%.

It also announced that from June its foreign currency exchange corporation has won a tender to offer forex services for a year trial period with Canada Post.

Elan reported a narrowing of losses last year and a reduction in operating expenses. Its stock rose 60c on the news to close at €17.20.

Aberdeen-based exploration group Ramco is to make an announcement to the Stock Exchange next week concerning progress at its Seven Heads gas field.

Jurys Doyle Hotel remained static at €10.05.