Market report:After the widespread sell-off witnessed on Wednesday, the Irish market staged a recovery yesterday, clawing back 1.52 per cent and outperforming other European markets.
Strong performances by markets in the Far East overnight got the Iseq off to a good start yesterday morning. Investor confidence was further bolstered when positive data on economic growth in the US was released later in the day.
Having borne the brunt of market jitters on Wednesday, the financials benefited more than most yesterday as investors bought back in. Irish Life and Permanent was the biggest gainer in the sector, jumping 60 cent - more than 3 per cent - to €20.25.
Allied Irish Bank also regained ground yesterday, adding 43 cent, almost 2 per cent, to bring its share price to €22.25.
Bank of Ireland and Anglo Irish Bank also received a boost, gaining 36 cent and 17 cent respectively, lifting their share prices to €16.25 and €16.12.
Construction stocks also benefited from the positive sentiment evident yesterday. CRH, for example, gained 46 cent, or 1.46 per cent, to close the day at €31.91, while Kingspan crept up 4 cent to €20.00.
Elsewhere, C&C rose by 13 cent, or 1.16 per cent, to €11.35 amid takeover speculation in the European drinks market.
Although Smurfit Kappa dipped during the day, it recovered well and ended the day up 45 cent at €18.60.
Greencore has been exceptionally strong all week, and closed up by a further 15 cent, or 3.37 per cent, to €4.60.
It wasn't all good news however, with Trinity Biotech falling 7.74 per cent to €1.67. Irish Continental Group also underperformed, losing 35 cent from its share price, to close at €19.65.
