Anglo boosts ISEQ gains

Shares at Anglo Irish Bank have made massive gains this morning as the bank announced pre-tax profits of €1,243m for the year to the end of September, up 46% on the same period last year.

Net lending to customers at Anglo was up 37% to €67.1bn, while the amount of lending still in the pipeline was €9.8bn.

A statement said: "We expect Ireland to remain one of the strongest European economies in 2008, despite a gradual moderation in growth rates."

The news proved a catalyst for an impressive performance on the ISEQ market floor with Anglo shares jumping 72c at €10.70. The optimism boosted banking shares across the board as AIB charged forward 50c at €14.50, BoI surged 45c ahead to €10.63, while IL&P recorded a 24c increase to €11.84.