Irish stocks escape volatile trading seen internationally

IRISH stocks escaped most of the volatile trading patterns seen across a number of international stock markets yesterday, despite the Government suggesting the overall financial cost of saving the banks could reach €50 billion on the back of Anglo Irish Bank’s bail-out estimate increasing.

While the main European markets of London, Paris and Frankfurt all saw marginal declines, Dublin’s ISEQ actually closed the day up by just under 1%.

Ireland’s much maligned cost of borrowing also improved as international investor concerns eased slightly as a finishing post, albeit a more costly one than previously anticipated, in terms of how much state aid would be injected into the banks, particularly Anglo Irish Bank, finally became visible.