Irish Banks Up Strongly (AIB, IRE)

The Irish banks are up strongly today, on the back of a bailout of Ireland, to the tune of $115 billion. Allied Irish Banks, plc. AIB is up 4 cents to 99 cents, a gain of around 4.5%. AIB has now become a penny stock, due to the concerns over its long term viability. Bank of Ireland IRE is up 24 cents to $1.68, a gain of nearly 17%.