Irish Banks Popping (IRE, AIB)

The Irish banks started moving sharply higher, indicating that Ireland is on the verge of a huge bailout. Allied Irish Banks, plc. AIB is up 4 cents to $1.22, after having been as low as $1.09 on the day. Bank of Ireland (ADR) IRE is up 18 cents to $2.38, a gain of 8%, after having been as low as $2.15 on the day.