Wednesday 26 July 2017

AIB rises on capitalisation timing optimism

AIB rose on the announcement by Brian Lenihan. Photo: Bloomberg News
AIB rose on the announcement by Brian Lenihan. Photo: Bloomberg News

Colm Heatley

Allied Irish Banks rose as much as 12pc in Dublin trading after Finance Minister Brian Lenihan yesterday said the capitalisation of the banking system would be resolved by the end of the first quarter.

“This is sooner than we would have anticipated,” Sebastian Orsi, an analyst at Merrion Stockbrokers in Dublin, said in a note. “Resolving the issues sooner rather than later would be positive.’’

AIB rose 15 euro cents to €1.50 as of 9:31am. Bank of Ireland rose 7pc to €1.63.

Bloomberg

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