Pound gains on mark but slips to sterling


THE pound has slipped back below 98p against sterling but has gained the mark.

The pound followed a bullish sterling up yesterday, gaining over a pfennig against the mark. It traded at 97.42p against sterling from 98.07p. However traders, said there were more sellers of the pound than buyers.

MB has appointed a group finance director after a gap of an almost 17 months. Mr Gary Kennedy, currently vice president, Enterprise Networks Europe, and managing director of Northern Telecom (Ireland), will take up the post at the end of May.

The previous finance director Mr Kevin Kelly was promoted to general manager, MB Bank, in October 1995.

Mr Kennedy (39) is on the board of the IDA and IBEC's national executive. He is also a fellow of the Institute of Chartered Accountants in Ireland.