The Irish market took its lead from its European counterparts today, trading up 1.6 per cent to 2,818.84 on what was a relatively quiet day in terms of stock-specific newsflow.
The two main banks endured another choppy day's trading. AIB and Bank of Ireland were trading around the €2.00 mark in the morning session, but both stocks came off sharply after lunch, dropped back to around €1.80. AIB managed to recover by the close to finish at €2.00, but Bank of Ireland struggled to make back the ground lost and closed down over 2 per cent at just under €1.77.
After peaking at €3.50, Irish Life & Permanent drifted down to €3.04, a fall on the day of 4.4 per cent. Insurance company FBD gained 20 cent - almost 3 per cent - at €7.27.
Cement giant CRH, the largest constituent of the Iseq index, helped to lead the market higher yesterday, jumping 68 cent to €18.00.
The big winner on the day was food group Greencore, which gained 15.5 per cent - or 18 cent - to €1.34. The stock has benefited from the news that a big buyer - Artemis Fund Managers - has accumulated a position of about 4 per cent in the group. Brokers said that although Artemis didn't seem to be active in the stock today, the news of its position has created a positive backdrop.
Glanbia also strong, trading up by almost 4 per cent to €2.35.
Across Europe, Britain's FTSE 100 rose 1.5 per cent, Germany's DAX was flat and France's CAC 40 advanced 0.9 per cent.
(Additional reporting: Reuters)