Irish

Wednesday 23 July 2014

ISEQ smashes through psychological 5,000 barrier

Colm Kelpie

Published 22/02/2014|02:30

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ISEQ is 10.3pc higher than at the beginning of the year

THE ISEQ Overall Index crossed the psychologically important 5,000 threshold yesterday to hit a five-year high, marking another milestone in the Dublin stock exchange's recent surge.

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Irish stocks followed indices elsewhere in Europe higher and shares there are now close to six-year highs.

The ISEQ is 10.3pc higher than at the beginning of the year and an extraordinary 38pc higher than it was this time last year. The benchmark index is double what it was in September 2011.

The annual jump is the biggest in 15 years and shows the remarkable effects of European Central Bank president Mario Draghi's interest rate cuts along with renewed confidence in the Irish story. Shares elsewhere in the western world are close to record highs, but the ISEQ still has a long way to go to match the all-time high of 9981.08 in July 2007.

Irish Independent

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