Iseq sees stock rise by more than 3%

The ISEQ index of Irish shares soared today by 176.44 points, a 3.08% increase, to 5,898.11 on expectations that the US Federal Reserve might deliver a 1% interest rates cut.

Three of the financial heavyweights experienced rises after initial losses this morning while Anglo Irish Bank suffered a 5c decrease to €6.90. Irish Life and Permanent went up 66c to €10.56 with AIB following suit climbing 34c to €12.50. Bank of Ireland was up 24c to €8.45.