Dublin report:The Dublin market's bounce back continued for the second day in a row on the Iseq index of Irish shares yesterday. And after Tuesday's 1.5 per cent gain, the post-Fed surge in positive sentiment was reassuringly convincing, with the Iseq climbing 4.65 per cent, up 350 points on the previous day's close, and outperforming the FTSE and most other European peers, writes Laura Slattery
It was, as ever, all about the financial stocks. AIB took the honours for the day's highest climber, soaring 8.3 per cent to €17.75, up €1.37 on volume of 7.4 million. Bank of Ireland was close behind, with its 84 cent rise representing a climb of almost 7.5 per cent, while Anglo Irish Bank rose by more than 6 per cent for the second day in a row and is now priced at €13.10. Irish Life & Permanent added 25 cent to close up 1.7 per cent at €15.18.
The rally was reflected throughout the market, however, with CRH finishing up around 4 per cent despite poor housing data in the US. Building materials group Kingspan did even better, surging more than 7 per cent to close at €17.55 on volume of two million, while McInerney rose 4.9 per cent to €1.92.
C&C also clocked up an above-average gain, rising almost 5.6 per cent to €6.33, while it was another good day for Fyffes, which also rose more than 5 per cent to €0.90 as it continues to benefit from a weak dollar.
Paddy Power climbed 4.8 per cent to €24.95, while Ryanair went up 3.6 per cent to close at €5.12. There was very little stock-specific news flying around. Recruitment and security group Newcourt's interim results were widely decreed to be good, but the stock fell two cent to €1.40.
Greencore, Independent News & Media, and Qualceram Shires were among other stocks to finish the day in negative territory.
