ISEQ up as financials rally

The ISEQ index recovered from a lacklustre start to the week to make significant gains in early trading today.

As the financials rallied from yesterday's losses, the ISEQ rose 40.07 points to 5,632.21.

AIB was up 6c to €13.77 as the bank's chiefs will be expected to come up with some impressive answers today when they are grilled on the bank’s overcharging scandals.

Allied Irish Bank chairman Dermot Gleeson and chief executive Michael Buckley will appear before the Oireachtas Committee on Finance and Public Service this afternoon.

Anglo Irish made significant gains, adding 17c to €15.32. Bank of Ireland added 11c to its share price to stand at €10.85 mid-morning. Irish Life & Permanent gained 5c to €12.92.

Pharmaceutical company Elan built on yesterday's strong gains, adding another 37c in early trading to €18.32.

Building materials group CRH was also on the up as it gained 21c this morning to €18.93.

Meanwhile, shares at Trinity Biotech rocketed this morning adding 62.8c to 65.26c, an increase of 2563.27%.