ISEQ up in early trading

The ISEQ index of Irish shares was valued at 2,669.36 at 11.15am this morning, a rise of 33.14 points.

Investors backed Tullow Oil for a rise of 90c to €10.74 after the exploration company this morning announced Ghana government approval for the first development phase of its Jubilee Field project offshore of the African country.

Index majors joining Tullow on the risers' board included Kerry Group, up 29c to €17.37; Paddy Power, rising 22c to €17.50; Elan Corp, lifting 16c to €4.87; FBD Holdings, up 15c to €6.60, and Ryanair, rising 8c to €3.35.

Financial stocks were also faring well, with AIB up 15c to €1.74 and Bank of Ireland lifting 18c to €1.67, but Irish Life & Permanent unmoved at €3.00.

Among the fallers, Kingspan shed 17c to €4.14; CRH was 16c off at €15.98 and C&C slipped 4c to €1.91.