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ISEQ continues rise above 3,900 level

Friday, March 15 12:46:45

The ISEQ continued to rise above the 3,900 mark this morning - a level not seen since the current downturn and financial crisis began in 2008.

By 12:30, the index was up 10.48 points to 3,922.55.

The conclusions of the latest European Council summit are long on rhetoric but short on specifics. There was speculation going into the meeting of European leaders last night that a fierce debate was going to occur on the issue of the benefits of the strict austerity agenda across the bloc. The Northern countries (Finland and Germany) had already set out their stall that the austerity and reform programme must continue, but France and Italy called for more flexibility. In the end, there was no major change in direction agreed.

Kingspan stocks rose 20c to E9.75. Last week Kingspan launched its latest Power Panel at the Ecobuild show. The photovoltaic (PV) module is integrated within the insulated panel and therefore the installation process is exactly the same as contractors use with the more traditional roof insulated panel. According to a consultant with the Solar Trade Association's Solar Photovoltaic, the product caused some "excitement" at Ecobuild and it is set to "revolutionise the BIPV industry" (Buildingintegrated photovoltaics). The product is to be launched by Jun-13.

"Product innovation is at the core of Kingspan DNA. For example, product development over the last 10 years now represents E228m (14pc) of group sales. In terms of the pipeline of potential new products, it has over 40 active projects," Goodbody's said.