Market rises on budget day

Budget day in Ireland saw a slight gain for the Iseq index despite increases announced in capital gains tax, Dirt and a PRSI charge on income generated from wealth such as rental income, investment income and interest on deposits and savings.

The index climbed 16.14 points to 3,299.99. World markets continued their recent mixed performance as the US fiscal cliff negotiations remain as a headwind.

Bank stocks were broadly positive on the day with AIB and Permanent TSB Group both gaining 0.2c. The former finished at 5.6c while the latter closed at 2.3c. Bank of Ireland was flat at 11.5c. FBD Holdings was 20c better off at €10.60.

Construction stocks were mixed as CRH gave up 3c to €14.03. Kingspan and Grafton Group added 19.4c and 9.7c to €8.15 and €3.73.


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