Banks, CRH take Iseq higher

Iseq 2333.96 (+27)Things could have been worse was the mood after the close of trading today, as the Dublin stock market closed up just over 1 per cent.

A disappointing consumer confidence figure out of the US failed to derail the Dow Jones index in the afternoon and European markets rose.

The main climbers were effectively a repeat of yesterday, with the banks continuing to rally on the back of a more positive disposition to the sector in London.

AIB was the biggest gainer of the day, surging 20 per cent to €1.19, although volumes, at 8 million, were nothing like the massive ones recorded last week.

Bank of Ireland, meanwhile, rose almost 9 per cent to 62 cent on volume of 7 million.

Irish Life & Permanent added 6.8 per cent to €1.74.

Market sentiment - at least, today's market sentiment - continued to go the way of Independent News & Media. After a horrible week last week, investors took crumbs of comfort from yesterday's trading statement and the stock duly rose almost 18 per cent to 30 cent.

The Iseq's biggest stock by market capitalisation, CRH, climbed 15 cent to €18.60, a rise of 0.8 per cent, which heavily influenced the overall outcome for the index.

Building insulation group Kingspan rose 7.7 per cent to €2.45.

But it wasn't a good day for drinks group C&C, which fell to a low of 74 cent before closing at 82 cent, down 3.53 per cent, on volume of 3 million.

Greencore's share price also suffered, and it finished down 5.8 per cent at a closing price of 81 cent.

Paper and packaging group Smurfit Kappa fell almost 7 per cent to €1.79. Bookmakers' Paddy Power climbed 1 per cent to €11.62.