ISEQ buoyed by Government spending promise

The ISEQ index of Irish shares continued its onward march this morning climbing 34.96 points to 8826.92 as Minister for Finance Brian Cowen confirmed the Governments continued spending into 2007.

Mr Cowen's Book of Estimates indicated that Health, Education and Justice would be priorities in the 2007 Budget but traders were also interested in the commitment made to spending on roads and public transport.

Mr Cowen's promise that building up the country's infrastructure remains a Government priority seems to have initiated a flurry of activity on the ISEQ construction front with building material group CRH getting the day off to a flying start.

This morning's biggest gainer CRH saw shares increase 45c to €28.60 while building company Grafton also climbed 7c to €11.53.

There was good news all round as most of the major financials also experienced increases. Bank of Ireland gained 5c to €16.20, AIB soared by 22cto €21.83 while Anglo Irish Bank and IL&P gained 5 and 14c to €14.45 and €19.44 respectively.