Financials in fine form

THE ISEQ closed in positive territory yesterday, rising 43.16 points from Thursday's tally to 4419.56 points.

The financial sector performed strongly. Irish Life & Permanent Plc led the charge by adding 39c to €11.64.

Shares in Ireland's leading mortgage lender gained for successive days on the foot of statistics published earlier in the week confirming a 10% rise in house prices for the first ten months of the year.

Other financials to rise included Bank of Ireland Plc 7c higher to €11.00, First Active Plc up 15c to €5.35 and Anglo Irish Plc 5c better off to €6.90. Allied Irish Bank Plc lost 10c to €14.10. The ISEQ Index of Financial shares closed 48.74 points higher to 8784.56 points.

Noteworthy movers included CRH Plc and Independent News & Media Plc. CRH Plc jumped 82c to €14.65 following gains in other European companies with potential asbestos-related liabilities. Independent News & Media Plc gained 3c to €1.46 on optimism that Ireland's biggest newspaper publisher will buy SMG Plc, a Glasgow-based newspaper.

Other movers on a positive day for Irish shares included Iona Technologies Plc climbing 45c to €3.30, Elan Corporation gaining 25c to €2.60 and Paddy Power 10c higher to €5.10. Ryanair lost 10c to €5.10.