ISEQ inches ahead

The ISEQ inched up 25.42 points this afternoon to 8097.4 points. The financials mirrored the modest gains with all major banks creeping into the black.

AIB managed a 2c rise this afternoon to €20.07, Bank of Ireland performing slightly better with a 10c rise to €15.

Anglo Irish Bank was the major winner today with a 11c increase to €12.70 with IL&P at least maintaining its position at €19.10.

In the wider market European Central Bank officials speaking at the G7 meeting in Singapore over the weekend warned that inflation pressures may persist beyond next year, indicating they will keep raising interest rates into 2007.

ECB council member Axel Weber and ECB president Jean-Claude Trichet both said they will exercise 'strong vigilance' against rising prices, using the same language they have used to signal four interest-rate increases in the past ten months.