Market continues momentum

THE ISEQ index rose for a second consecutive day yesterday buoyed by strong performances from index heavyweight CRH and fellow buildings and materials company Grafton Group.

Global markets surged after manufacturing in the US and China grew faster than economists estimated. The market closed up 56.87 points at 2,760.73.

In the financial sector, Bank of Ireland shed 1c to 76c.AIB improved 1c to 78c, while Irish Life & Permanent advanced 9.9c to €1.54.

In the construction sector, shares in Grafton rose 13.7c to €2.83 after it reported adjusted earnings per share of 7c, which were well ahead of analysts’ forecasts. It was also a big improvement on last year’s loss per share of 6.6c. Elsewhere, CRH jumped 47c to €12.74, while Kingspan increased 24c to €5.69.


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