News article

Irish bank shares rebound in stock market trading

Irish bank shares rebound in stock market trading
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Shares in the Bank of Ireland went up by 20 per cent in early stock market trading today (March 6th) after seeing its share price drop 30 per cent yesterday.

Meanwhile, shares in Anglo Irish Bank (AIB) rose by nearly 15 per cent after falling 21 per cent in yesterday's trading.

Over the last year, AIB and the Bank of Ireland have lost almost 97 per cent of their value, reports the Irish Times.

Meanwhile, the Iseq overall index was down ten points to 2,009.

In other Irish news, taoiseach Brian Cowen has said he had no advanced knowledge that exchequer returns for last month would show a shortfall of two billion euros (£1,780,000,000).

"I don't think we were caught by surprise," he commented, adding: "The level of revenue that the economy is generating is less than expected, even though we had budgeted for a decrease this year."ADNFCR-1681-ID-19061803-ADNFCR