Market surges on Budget hopes

The ISEQ jumped 47.50 points to 2,800 ahead of the expected passing of the Budget and amid hopes that the economy will stabilise.

The euro also rose yesterday on optimism that the Dáil will pass the Budget, though the single currency was still troubled by structural weaknesses in the euro zone.

European shares hit a 26-month high yesterday, with commodity stocks gaining on strong crude and metals prices and as a deal to extend US tax cuts helped lift confidence in the economy.