Markets in Europe generally upbeat

European markets were positive across the board yesterday as speculation surrounding bond rescue plans and hints that a further Chinese stimulus package may be unveiled boosted investor appetite.

Bank stocks and mining shares led the way on the day. The Iseq index gained 35.01 points to finish the session at 3212.54.

Despite positive movement in other European banks, their Irish counterparts all lost ground and were the top three constituents on the day’s worst-performing stocks. AIB was off 0.2c at 5.1c. Bank of Ireland dipped below 9c, losing 0.2c to close at 8.9c, while Permanent TSB Group shed 0.3c to 2.7c. Irish Insurer FBD Holdings was a 13c gainer to 8.80.

Stocks related to the building sector all performed well on the day with Kingspan leading the way after Monday’s results announcement. The stock rose 28.9c or almost 4% to 7.619. CRH added 39.5c to 14.81, while Grafton Group was 5.3c better off at 3.21.

Elsewhere, United Drug continued to gain on the back of positive sentiment from its recent acquisition announcement; the share price tacked on another 5c to 2.56.


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