With European stock markets storming ahead on the back of the US mid-term election results and hopes of further interest rate cuts, the Dublin market put in another sturdy performance, adding just under 1 per cent and pushing through the 4,500 barrier on the ISEQ.
Financial shares led the way, boosted by hopes that the Bank of England monetary policy committee will cut British interest rates today.
Bank of Ireland was the best of the financials, closing up 30p on £13 after peaking on £13.10. AIB was in less demand and added 91/2 p to 9671/2p. The market for the two bank stocks seems to have shifted towards Bank of Ireland for the moment, but both will benefit from a rate cut.
Irish Permanent, which announced a £400 million mortgage securitisation in Britain, was unchanged on 940p as was First Active on 355p.
Anglo Irish remained in demand and added 4p to 172p while Hibernian was 30p higher on 700p.
Smurfit, which was the best of the industrials, jumped almost 5p to 123p in its best one-day performance for some time. CRH, which has had an exceptional run recently, hit some profit-taking and lost 25p to 980p.
Fyffes was not affected by any potential hurricane damage to the Central American banana crop and was 1p firmer on 121p.
Good drilling results from Galmoy saw Arcon gain 2p to 21p.
Clondalkin jumped 12p to 432p, Green was 10p higher on 375p, although Irish Continental dropped 30p to 770p.
Elsewhere, Kerry was 15p firmer on 890p and Ivernia added 21/2 p to 541/2p.
The gains in New York were barely reflected in the Irish stocks there, and only Elan made any real progress and was almost $1 higher at just under $71.
