A 1.2 per cent fall in American producer prices in the year to the end of April gave the Irish stock market a solid boost as share prices of the leaders rose in line with the early gains on Wall Street.
The producer prices are seen as distinctly inflation-friendly and suggest that the Fed can hold off an interest rate rise at next week's Open Markets Committee meeting.
In Dublin, the main focus was on Bank of Ireland ahead of today's full-year results. The shares rose sharply, climbing as high as £15 before closing up 45p on the day on £14.90. AIB was 20p higher on 990p while Irish Life gained 3p to 635p as it disclosed that it has sold 70 per cent of its Almanij stake at a profit of £16 million. Irish Permanent, however, lost 5p to 935p.
Among the industrials, Smurfit edged 3p higher to 268p, although merger candidates JS Corp and Stone were weaker on Wall Street as some of the euphoria over the merger dissipated. CRH was 16p higher on £10.38 while Green was unchanged on 550p after it emerged that it had tabled a proposal to buy Trafford Park Estates in Britain - a proposal that has been rejected by the Trafford board as inadequate.
Fyffes was unchanged but offered at 200p while Independent was unchanged on 405p.
Some second-liners were hit by profit-taking, with Jurys off 15p on 630p, while Kerry lost 25p to £10.55. Ryanair was 5p easier on 490p while Greencore weakened 10p to 400p.
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