Market falls as shares sold off

Tuesday, December 08, 2009

THE Irish market mirrored losses across most European bourses yesterday by dropping 34.45 to close at 2,952.79.

Investors sold shares after a relatively good run into the end of last week amid continuing reports of improving conditions for the US economy.

The bank stocks were weak on the day, with all three major constituents losing ground. AIB and Bank of Ireland slipped 4.3c and 3c to €1.51 and €1.61. Irish Life and Permanent followed the trend by giving up 3.3c to €3.76.

It was a mixed day for the construction stocks as market heavyweight CRH fell back, having made gains late last week. The share price closed down 46.7c at €17.93. Kingspan was down 3c to €6.50, while Grafton Group added 4c to managed to buck trend by 3.12.

This story appeared in the printed version of the Irish Examiner Tuesday, December 08, 2009