ISEQ up almost 5%

The ISEQ index of Irish shares was valued at 2,759.40 at 11am this morning.

The ISEQ index of Irish shares was valued at 2,759.40 at 11am this morning.

This represented an increase of 115.54 points or 4.37%.

All of the major banks reported large increases. AIB was up 12c to €1.20, Bank of Ireland rose 31c to €1.38 after news that chairman Richard Burrows is to step down and Irish Life & Permanent rose 20c to €3.

DCC, which reported profits of almost €138m this morning, was up 70c to €15.20, while others to make gains were Kingspan (25c to €4.85) and Smurfit Kappa (27c to €3.47).

In a morning of little fallers, First Derivative was one of the heaviest sufferers, down 20c to €2.95.

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