Thursday, September 19 12:49:37
The ISEQ joined in a global shares surge this morning after the U.S. Federal Reserve shocked investors by delaying a decision to reduce its economic stimulus.
By 12:30, the ISEQ was up 43.00 points to 4,315.17.
The Fed said after European markets closed on Wednesday that it would keep buying $85 billion in bonds per month, countering expectations that it would start to scale back that programme by at least $5 billion-$10 billion.
"It's a perfectly reasonable reaction. The market got it wrong. It misread the signals from the Fed," Michael Hewson, senior market analyst at CMC Markets, said.
CRH has announced that Doug Black, COO of Oldcastle (the holding company for CRH's interests in the Americas), is leaving the group to pursue other interests. While unfortunate, we understand the departure to be amicable and not related to the recent change of CEO. At this point, Black does not appear to be joining a competitor. The divisional heads will now report directly to Mark Towe, the CEO of Oldcastle. CRH shares rose 43c to E18.15.