Shares in Irish banks have risen today following the publication of the draft bill to establish the National Asset Management Agency (Nama).
At 1pm shares in AIB were up over 7 per cent or 13c to €1.86 while Bank or Ireland shares rose 9 per cent or 17c to €2.00.
Meanwhile, shares in Irish Life & Permanent gained 12c to €3.40.
The National Asset Management Agency (Nama) is to be be given sweeping powers to intervene in the property market under the draft legislation which was published yesterday evening.
The legislation also restricts the scope of any legal challenges to the State's “bad bank”.
The surge in share price will be welcome by the banks who have seen their share price collapse over the past year.
Elsewhere, shares in healthcare services group United Drug United Drug were flat at €1.90 after it said that while profits for the year to the end of September are in line with expectations, figures will be hit by currency fluctuations.
Other movers on the Dublin market today included food group Aryzta which gained 38c to €24.49 and insurer FBD which added 20c to €7.00.
