ISEQ reacts to building development

The ISEQ index of Irish shares began the morning on a high note as it recorded a 47.01 point jump to 8852.88 on foot of news that a major development in Co Carlow promises to boost construction by creating a new town centre.

Greencore has applied for planning permission to convert the site of its former sugar factory in to a new €1bn town centre in Carlow, in a project that it claims will create as many as 2,000 jobs.

The application was made in response to invitations from Carlow County Council.

The Greencore proposal is understood to include 3,000 houses, as well as commercial and leisure facilities.

Building materials group CRH was also buoyed by the news soaring 27c to €29.06 and claiming the top position as the market's best performer so far today.

Elsewhere the financials also reported some success. Bank of Ireland lead the way with an 18c increase to €16.23, AIB followed closely with a 17c climb to €21.85 while IL&P and Anglo Irish Bank increased by 15c and 5c to €19.70 and €14.40 respectively.