ISEQ stocks rise on foot of growth news
Banking stocks were back in favour today as investments on the financial market boosted the ISEQ-index by 144.78 points.
Gathering strength from yesterday's gains and on foot of news of growth from AIB the Irish market climbed to 7912.40 points at 11am.
AIB predicted a slowdown in economic growth in the second half of this year to around 4.8% and to 3.3% next year before rising to more than 4% in 2009.
This is a more optimistic forecast than that of the Government, which has predicted 3% growth next year and average growth of 3.25% over the following three years.
The news prompted tentative gains on the financial front. Taking the lead IL&P set about regaining some of its recently lost share price. The value of the bank's shares jumped 65c to €16.33.
Bank of Ireland climbed 27c to €12.18, Anglo was up 15c at €12.35 while AIB jumped 30c at €17.
