Bank shares soar in morning trading

The ISEQ index of Irish shares soared this morning, up 14% to 4,308.98 by 11.15am.

Following news that the financial regulator has banned short-selling speculators within Ireland's biggest financial institutions, there was positive news all round for each of the heavyweights within the financial sector. Anglo Irish Bank shot up €2.11 to €6.49, with Irish Life and Permanent gaining €1.60 to €6.70.