Irish shares volatile

Irish stocks have been performing poorly in a poor and volatile market. European stocks slumped to three-month lows yesterday. A slight recovery has been staged this afternoon, seeing Irish shares on the ISEQ close up 1.1% at 9,185 this afternoon, with gains in CRH and AIB after strong results today.

AIB reported pre-tax profits of €2.6 billion for 2006, that is an astonishing increase of more than 50%. Much of the gains was from property sell-offs and the sale of Ark Life. The results were still far better than expected. Of note was the AIB Poland profits, these climbed 56% to €207m. Shares in AIB were up 37 cent at €22.04 in Dublin this lunchtime.

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Irish shares volatile