ISEQ closes up despite ECB rate-increase threat

The ISEQ closed up 38.73 to 8045.04 today under the shadow of stark warnings from the European Central Bank which indicated it was ready to raise its key interest rates further after already raising them by a full percentage point to 3% since December.

While the ECB held its benchmark refinancing rate steady at 3% at its regular monthly policy-setting meeting today, the bank said it was prepared to raise the rate again in the coming months to keep a lid on inflation in the single currency area.