ISEQ buoyant in early trading

The ISEQ index today began its recovery from recent losses, climbing an impressive 177.79 points to 7191.06 by 12.45pm.

The financials led the morning revival, with Allied Irish Banks jumping 65c to €17.90. Bank of Ireland also did well, up 49c to €13.80. Anglo Irish Bank also climbed (up 27c to €11.01) as well as Irish Life & Permanent (up 35c to €17.60).

There was also a resurgence in optimism regarding the construction sector. CRH was the best performer during the morning’s trading, rocketing 67c to €23.97. Grafton Group also enjoyed a healthy 37c boost to €9.72. Kingspan Group did not fare quite as well, but nevertheless moved up 16c to €12.60.

Bookmaker Paddy Power was another strong performer, gaining €50c to 12.50 as World Cup fever began to grip the country. Elan began to claw back recent losses, climbing 31c to €11.86.

Ryanair and Dragon Oil both jumped 15c to €7.20 and €2.17 respectively. Other climbers included DCC (up 12c to €17.80) and Kerry Group (up 17c to €15.90).

In a day of almost universal gains, the only major loss of the day came for Icon Plc, slipping 15c to €40.60.