Quiet gains in early morning trading

Trading has been quiet on the Irish Stock Exchange this morning although gains among selected heavy hitters has seen the ISEQ…

Trading has been quiet on the Irish Stock Exchange this morning although gains among selected heavy hitters has seen the ISEQ move ahead 18.93 points to 4458.15.

AIB slipped back after making early gains was down 20 cent to €12.27 at 11 a.m. Bank of Ireland is 4 cent up at €11.79, Irish Life & Permanent has risen 5 cent and stands at €1.41 while the Anglo Irish Bank has fallen back 3 cent to €6.52.

CRH is up 25 cent to €15.60, while DIY and builders' merchants, Heiton, is off 5 cent at €2.95.

Budget airline Ryanair rose 5 cent to €5.90, despite rival Easyjet this morning posting impressive passenger numbers showing greater growth than the Irish carrier.

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The FTSE 100 Index is also continuing its tentative rally after falling to a five-year low earlier in the week. The blue-chip index rose 42.8 points to reach 4514.0 in early trading.

With the US markets closed yesterday, there was little in the way of negative news to shatter fragile investor confidence.

Some of London's biggest stocks continued to show signs of recovery and included Vodafone, up 2¾p at 88¼p.

Rival mmO2 gained a penny at 44p, BT Group lifted 1¼p to 245p and Cable & Wireless improved 2p to 167p.

Outside the Footsie, shares in easyJet continued their recent rally, helped today by those strong monthly passenger numbers. The FTSE 250 stock rose 19p to 330p.