Market maintains steady advance

The Iseq Index gained 30.22 points yesterday to close at 3,227.6.

Markets rose as data showing a drop in China’s consumer inflation fuelled expectation of further policy easing to boost growth.

In the financial sector, Bank of Ireland slipped 0.1c to 9.8c. AIB dropped 0.2c to 5c. Permanent TSB fell 0.2c to 2.1c, while Insurance Group FBD Holdings gained 5c to €8.29.

In the construction sector, the latest data from ARTBA shows that $21.9bn of funds has been obligated to highways in the first 10 months of the current federal fiscal year (to July) versus $24.4bn in financial year 2011. Shares in CRH advanced 25c to €15.91. Grafton dipped 2c to €2.98, while Kingspan added 5c to €6.75.

In other news, Kerry Group reported a 28% fall in first-half pre-tax profit but said trading profit, its key measure, rose nearly 13% and it is raising its full-year guidance. Shares in the company rose €2.20 to close at €38.50.


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