ISEQ bounces back, climbing 17.97

The ISEQ index bounced back from a bad day yesterday, climbing 17.97 to end the day at 5,418.12.

It was a good day for the banking sector as their shares were on the rise.

Bank of Ireland shares climbed 14c to €10.58 today. Earlier Bank of Ireland governor Laurence Crowley predicted further good results for the rest of 2004 after strong first quarter results and reduced costs throughout the group.

Meanwhile Allied Irish Bank was up 6c to €12.31. Anglo-Irish Bank leaped 22c to €12.70 while Irish Life & Permanent rose 13c to €12.55.

Shares in Greencore rose 4c to €3.04 today. Greencore today announced it has sold its interest in its associate, Budgetts, to Napier Brown Foods for €9.05m.

ISEQ-listed DCC plc's food and beverage division today agreed to acquire Bottle Green Limited, a UK-based wine sales and marketing business with a 5% share of UK off-trade wine market volume.

DCC shares rose 10c to €14.60.

Elan shares slipped 2c to €20.40 today. The pharmaceutical announced it has completed the sale of its worldwide rights to Myobloc, a treatment for cervical dystonia.

Elsewhere there was movement in construction shares. Shares in Abbey leaped 45c to close at €8.85. Shares in CRH were up 7c to €18.05.