Market dips for second day running

SHARES in Dublin ended the day in negative territory for the second day in a row with the banking stocks the main catalyst. The ISEQ gave up 48.8 points to 6048.58.

The financial sector closed down with Anglo-Irish tumbling 70c to €18.90, as new IFRS accounting rules could reduce earnings by up to 8pc. AIB rose 3c to €16.08 while Bank of Ireland finished in the red, 17c lower at €12.12 with moderate trading. Irish Life and Permanent slipped 15c to €13.85.

In construction, CRH dipped 15c to €20.20 while Grafton Group eased 7c to €9.13. Kingspan and McInerney fell 10c and 5c. Ryanair was down 14c to €5.91. Elan lost 15c to €5.50 while Independent News and Media gained 9c to €2.52.