Alexa
  • Directory of Taiwan

Irish bonds, banks rebound after Anglo split plan

Irish bonds, banks rebound after Anglo split plan

Investors are welcoming Ireland's plan to split up its most debt-crippled bank, Anglo Irish, by bidding strongly for government bonds and bank shares.
Thursday's moves come a day after Finance Minister Brian Lenihan unveiled plans to split state-owned Anglo into a "good" deposit bank and a "bad" bank tasked with dumping its toxic property-based loans. Analysts say the Anglo clean-up could cost Ireland (EURO)35 billion ($45 billion), a fifth of GDP.
A (EURO)400 million Irish bond auction was heavily oversubscribed and required lower yields than a similar auction Aug. 26. This indicates that investors consider Irish debt less risky than two weeks ago.
Shares in Ireland's three listed banks _ Allied Irish, Bank of Ireland and Irish Life & Permanent _ were all rising Thursday.


Updated : 2021-06-19 10:49 GMT+08:00