Shares on the Irish market rose this afternoon, but investors were holding their breath in advance of this afternoon's Budget.
By 12.37pm, the Iseq had climbed 27.87 points to 2,900.24, but was showing signs of shedding gains made during the session.
After a tough day yesterday, the financial stocks firmed up a little, following their UK peers. After sustaining losses in the previous session, AIB rose 4.7 per cent to €1.47, while Bank of Ireland gained 3 per cent to €1.61. Irish Life and Permanent, meanwhile, climbed 2.1 per cent to €3.40.
Heavyweight stock CRH gained slightly, adding 0.59 per cent followign the announcement of further stimulus measures for the US yesterday. Traders noted the mention of spending on highways, which could benefit CRH in the future.
Aer Lingus also saw its stock climb, rising 3.5 per cent to 59 cent. The airline is currently attempting to push through a cost-cutting plan that will see it save €97 milion. Chief executive Christoph Mueller said in an interview with the
Financial Timesthat the airline was at risk of being taken over by Ryanair unless the plan was approved.
Greencore fell 3.6 per cent over the course of the day, after falling more than 7 per cent early on in the sessions. Traders blamed a stock placing this morning for the initial fall-off in the stock, but noted it recovered somewhat as the session progressed.
The Minister for Finance, Brian Lenihan, is due to deliver his Budget speech to the Dáil at 3.45pm.