Global markets have recovered somewhat since last week following central bank moves to ease fears about world credit markets.
Markets have been rocked for weeks by news of problems in banks and funds exposed to risky investments in US mortgage and asset-backed markets, triggering fears that the cheap credit that has helped fuel global growth might dry up.
Central banks in Europe, Asia and North America injected huge sums into the money market late last week to prevent money markets seizing up as the number of financial institutions revealing exposure to crumbling credit markets swelled.
The trend continued today when the Bank of Japan pumped $5.1 billion (€3.73 billion) of funds into the banking system in a one-week operation.
The European Central Bank also said it would add liquidity to calm markets again, although it said money market conditions were improving.
European stocks rose today, reversing a sharp two-day slump. The pan-European FTSEurofirst 300 index was up 1.4 per cent, rebounding from a nearly 5 per cent sell-off during the last two sessions.
Ireland's ISEQ index was up 1.65 per cent at 11.15am today.
At 11.15am Britain's FTSE 100 was up 1.77 per cent, Germany's DAX gained 0.82 per cent and France's CAC 40 was up 1.09 per cent.
The dollar slipped 0.1 per cent from late US trade to 118.26 yen. The euro slipped 0.3 per cent to 161.61 yen. The single currency was down 0.2 per cent against the dollar at $1.3666.