Early surge on ISEQ

The ISEQ index of Irish shares jumped 110.02 points to 2,600.37 in early trading this morning, the rise reflecting the positive trend across global markets.

Independent News and Media, which earlier in the day posted annual results saying it would be unable to meet the May 8 deadline to repay a €200m bond, recovered from an early-morning dip of some 20% to stand at 0.24 by 11.50am, a drop of 1c or 4%.

Financials were on an upward curve, with AIB rising 9c to 0.90, Bank of Ireland up 6c to 0.72 and Irish Life & Permanent cheering 8c to 1.95.

Market majors also on the risers' board included CRH, up 90c to 19.47; Kerry Group, jumping 40c to 15.50; Paddy Power, up 35c to 14.06 ; Elan Group, rising 17c to 4.64; Kingspan, up 12c to 3.90; Ryanair, rising 5c to 3.35, and Aer Lingus, gaining 4c to 0.63.