Good gains for ISEQ

The value of Irish shares rose by almost 1.3% today, as the ISEQ index of Irish shares finished 36.74 points up at 2.886.37.

The financials all did well. The market reacted well to Irish Life and Permanent’s announcement that it was to cut jobs at Permanent TSB, as it gained 12c to €3.30. Elsewhere, Allied Irish Banks gained 6c to €1.58 and Bank of Ireland inched up 2c to €1.64.

The construction sector enjoyed some upward movement. CRH climbed up 32c to €17.65, and Kingspan improved 25c to €6.15.

There were big gains for Tullow Oil (up 98c to €14.28) and Paddy Power (up 47c to €25.33).

Gains for firms such as Merrion Pharmacies (up 18c to €3.60), FBD (up 15c to €6.80), Smurfit Kappa (up 14c to €5.70) and Glanbia (up 14c to €5.70) were somewhat smaller, but no less welcome.

The only losses of significance today came for DCC (down 29c to €18.83) and Dragon Oil (down 14c to €4.38).