Banks claw back some losses

SHARES in the Irish market gained yesterday after a very volatile week, which saw more ground lost.

The gains were helped by the banks which recovered some of the losses incurred during Thursday’s sell-off. The ISEQ index jumped 47.73 points to 2,844.28.

The financials managed to regain some of the previous day’s losses as investors sought value from what was seen in some quarters as an overdone sell-off. AIB and Bank of Ireland rose 1.5c and 2.4c to 81.5c and 63c. Irish Life and Permanent closed the day up 2.5c at €1.44.

Construction stocks were also in positive territory as market leader CRH added 30c to €16.72. Grafton Group and Kingspan followed suit by increasing 10.4c and 10c to 3.024 and €6.10.


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