ISEQ makes positive start as financials surge

The ISEQ index has made a positive start to the week, climbing 33.77 in early trading to stand at 5,712.66.

Financial stocks have surged in morning trading. Allied Irish Bank shares climbed 8c to €13.73 while Bank of Ireland shares moved up 15c to €10.90.

Shares in Anglo-Irish Bank are up 10c to €15 while shares in Irish Life & Permanent are unchanged at €13.20.

Elsewhere Ryanair today announced it has entered into a 10 year agreement with General Electric’s subsidiary GE Engine Services to provide engine maintenance for the Ryanair fleet. Shares of Ryanair are down just 1c at €4.08.

Business support services company DCC today announced its energy division has completed the €23m acquisition of the business of Shell Direct UK. Shares in DCC are down 15c to €15.75 today.

Pharmaceutical giant Elan is up 7c today to €20.27.

Other big climbers in morning trading include IAWS, up 17c to €10.58, and building materials group CRH, up 13c to €18.83.

The most traded stocks today are Anglo-Irish Bank, Bank of Ireland, eircom, Grafton and CRH.