MARKET REPORT - Iseq: 3,822.94 (+ 181.65):DUBLIN BUCKED the trend yesterday as global stock markets suffered renewed jitters over the fate of the $700 billion US bank bailout plan.
Major European markets lost ground and the Dow opened nervously.
In Dublin, however, the passing of legislation underpinning the Government's commitment to underwrite the six Irish-owned banks and building societies saw financial stocks continue their recent rally.
Anglo Irish Bank jumped over 18 per cent in strong demand to close on €4.903.
This was well ahead of the level at which it was trading prior to Monday's precipitous decline.
The other banks also performed strongly, even if their gains were not as spectacular.
AIB added 8.5 per cent, or 50.9 cent, to €6.509.
Meanwhile Bank of Ireland was 40.7 cent (9.5 per cent) firmer on €4.707,
Irish Life Permanent experienced more volatility than its peers, surging 20 per cent at one point in the session before coming off those highs to close on €6.129, a gain of 62 cent or 11.25 per cent on the day.
Outside the financials, CRH gained 33 cent or 2.24 per cent to finish on €15.23 as the stock recovered from programme trading earlier in the week as the financial quarter ended.
Traders said the second-line stocks were again left marking time yesterday.
The Iseq general index rose just 1.7 per cent compared to an 11.8 per cent jump among the financials.
There was some movement with Ryanair, slipping two cent to €2.26.
Home-builder Abbey, which holds its annual general meeting this morning, was 5 cent firmer on €3.30.
Settlement date: October 7th
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