Bank of Ireland Pops 8% on Rescue Rumors (IRE)

Shares of Bank of Ireland IRE jumped more than 9% in mid-day trade Tuesday, as speculation increased that Ireland would accept a European Union rescue package. Bank of Ireland stock rallied as high as $2.42 around noon EST, as Prime Minister Cowen is rumored to be laying the frame work for potentially accepting a deal down the line. Cowen has said that Ireland has made no application for support, but the country must address its rising bond spreads. Bank of Ireland and its subsidiaries provide a range of banking and other financial services in Ireland.