ISEQ edges towards 6000 mark

The ISEQ had the 6000 barrier within its sights after it surged in early trading today.

Strong performances from the financials, among others, saw the Dublin market gain 77.64 points to 5970.05.

Anglo Irish was the main mover, adding 50c to stand at €9.48. AIB was up 20c to €16.30, while Bank of Ireland gained 27 to €12.10. Irish Life & Permanent was unchanged at €12.95.

It was also a good morning for the construction sector, with CRH adding 15c to its share price to stand at €19.60 and Grafton adding 15c to €18.85.

Meanwhile, Waterford Wedgewood added 1c to €0.05 today as it announced it planned to cut 1,800 jobs as part of a major restructuring of its operations in Ireland and the UK.

The moves by the new owner of Royal Doulton include the closure of its Waterford Crystal plant at Dungarvan, resulting in the loss of 400 jobs.

It will also increase the level of savings stemming from its acquisition of Stoke-based Royal Doulton – bringing an additional 500 job losses worldwide on top of 450 posts already lost.

The company, which will employ around 9,500 people following the restructuring, said it needed the cost savings in order to return to “sustainable profitability”.