ISEQ heads towards 8000 mark

The ISEQ index of shares smashed the 7900 barrier today, gaining 71.62 points to close at 7950.83.

In a good day for the financials, AIB led the charge gaining 32c to close at €19.46. The rise came as the bank announced an increase of 0.25% in interest rates on all loans and deposits.

The increase will take effect from tomorrow.

Also today, AIB Investment Managers won the 'Best Balanced Pension Fund Award' for its Yield Focus Fund in the annual Moneymate Investment Awards.

The award is based on analysis of pension funds over the past five years in terms of the returns generated and the level of risk incurred.

Meanwhile, Bank of Ireland shares rose 18c to 15.25, Anglo Irish was up 26c to €13.65, while Irish Life & Permanent gained 5c to close at €18.35.

Meanwhile, shares in agri-food group IAWS dropped 10c to €14.15 as it reported a better than expected 22.6% increase in its pre-tax profits for the six months to the end of January. Pre-tax profits rose to €49.4m as group turnover rose by 13.4% to €715m.