Bank of Ireland Up 14% In Pre-Market (IRE)

Bank of Ireland IRE is up 14% this morning on the back of an official Irish bailout. Over the weekend, the European Union announced a bailout for Ireland to the tune of $115 billion. It will pay a 5.8% interest rate for the loan. IRE also announced it would be raising over $2 billion in Euros in fresh capital to help shore up its balance sheet. At last check, shares of IRE were up 29 cents to $1.73, a gain of 20%.