Advertisement

Opening Bell: Irish rents rocket (again), IBRC report goes to Cabinet, French stocks rebound

Irish rents are rising at the fastest rate since Ireland's economic crash, increasing by ove...
Newstalk
Newstalk

07.37 17 Nov 2015


Share this article


Opening Bell: Irish rents rock...

Opening Bell: Irish rents rocket (again), IBRC report goes to Cabinet, French stocks rebound

Newstalk
Newstalk

07.37 17 Nov 2015


Share this article


Irish rents are rising at the fastest rate since Ireland's economic crash, increasing by over 3% between July and Sept - this is the largest quarterly increase recorded since the market was at its peak in 2007.

The quarterly report says that supply of rental properties is at its lowest point in close to a decade.

The national average during the period was €964, up from €882 a year ago - an increase of 9.3%.

Advertisement

______________________________________________________

The European Commission is expected to approve Ireland's 2016 Budget today - although it will express some concerns about the level of spending promised in supplementary estimates.

Ireland's spending plans, which include some €3bn of additional spending measures and tax cuts, will be said to be in “broad compliance” with Europe's fiscal rules.

The EU required Ireland to bring its deficit below 3% of GDP - Ireland's budget is based on a final deficit of 2.1%.

______________________________________________________

Friday night's terror attacks in Paris failed to provoke a major sell-off of European shares yesterday - a slump in travel stocks was offset by gains in the energy sector.

Airlines were among the big losers - Air France shares dropped by 5%, as did IAG shares. French hotel group Accor also took a 5% hit.

In Paris the Cac 40 index closed down 0.08%, while the price of gold rose by 1% as investors turned towards haven assets.

______________________________________________________

The Cabinet will consider the interim report from Judge Brian Cregan investigating transactions at the Irish Bank Resolution Corporation (IBRC) today.

But Ministers are unlikely to make decisions on how to deal with the issues of confidentiality and legal privilege.

Meanwhile an interim report into the taping of phonecalls in garda stations will also be viewed by Ministers.

Judge Brian Cregan sent his interim report to the Taoiseach last Friday and Enda Kenny will bring it to Cabinet this morning.

That report is likely to be published in the coming days.


Share this article


Read more about

Business

Most Popular