Markets buoyed by fiscal cliff hopes

Bourses across the globe were in positive territory, taking the lead from US markets buoyed by signs of progress on Capitol Hill in reaching an accord to avoid the steep spending cuts and tax increases promised next year should the fiscal cliff not be averted.

The Iseq index pushed on 18.96 points to 3331.93.

Bank stocks were decidedly mixed on the day as Bank of Ireland remained flat at 11.5c. AIB gained 0.1c to 5.1c while the Permanent TSB Group shed 0.1c to close at 2c. Elsewhere in the financial sector, Irish insurer FBD Holdings added 0.5c to 10.055.

The construction sector was stronger across the board as CRH tacked on 1c to 14.32. Kingspan was 11.1c better off at 8.20 while Grafton Group moved on 6c to 3.63.

Elsewhere food producer and ingredients business Glanbia gained 6% or 46c to finish the session at 8.14, while peer Kerry Group was up 13.5c at 40.735l.


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