Iseq: 2,416 (+43) at 12.20pm:The Dublin market was almost 2 per cent higher by lunchtime with just a handful of stocks in negative territory.
At 12.20pm the Iseq index of Irish shares was up 43 points at 2,416.
With oil prices hovering around the $50 mark airline stocks were firmer with Ryanair adding over 2 per cent to €3.14 while Aer Lingus gained 3.7 per cent to 72 cent.
Market heavyweight CRH added 3.7 per cent to €17.58 on no specific news.
Among the financials AIB surrendered early gains to fall over 6 per cent to €1.05 after it published its annual report at 10am.
In it chairman Dermot Gleeson said the bank expected the operating environment to remain “extremely difficult” this year.
With better than expected results from Goldman Sachs last night giving financials across Europe a boost Bank of Ireland was up over 1 per cent at 85 cent while Irish Life and Permanent added over 5 per cent to €2.02.
In Europe shares hit two-month highs at midday, with banks leading after strong earnings from Goldman Sachs and miners tracking firmer metals prices.
"People have been seeing some green shoots," said Georgina Taylor, equity strategist at Legal & General Investment Management.
"But there's absolutely no evidence that final demand is recovering. Equity markets are doing what they typically do, trying to pre-empt the recovery, a couple of quarters ahead."