Greece weighs on market sentiment
Friday, May 18, 2012
The Iseq index plunged 58.47 points yesterday, to close at 3,026.01, in line with European and world markets.
The possibility of Greece leaving the eurozone, an unprecedented move with unpredictable consequences for the rest of the region, continues to weigh on sentiment.
The European Central Bank late on Wednesday said it has stopped providing liquidity to some Greek banks as they have not been successfully recapitalised.
In the financial sector, Bank of Ireland dropped 0.2c to 8.4c. AIB was unchanged at 7c. Irish Life & Permanent remained at 3.3c, while insurance group FBD Holdings added 1.8c to €8.118.
In the construction sector, CRH slipped 33c to €13.445. Grafton held at €3.11, while Kingspan fell 0.2c to €7.32.
In other news, Paddy Power announced group revenue for the year to date was up 28%. Online revenue grew by 31%, while retail revenue increased by 26%. Shares in Paddy Power advanced 1.165 to €48.50.