Market reacts positively to recovery plan

STOCKS reacted positively to the details in the Government’s four-year plan yesterday with shares closing in positive territory last night.

Although AIB closed up 1.5% at 34 cent, Bank of Ireland finished the day down 11% at 27 cent and Irish Life and Permanent was down almost 16% at 63c. Overall, Irish shares closed up 0.5%.

Unlike the Budget, which is released at 4pm, markets had some time to react to the plan which was released at 2pm yesterday.