Market dips for second day in row

THE Irish market declined yesterday, for the second day in succession, falling 51.85 points to 4327.44.

The financial stocks followed those in Europe lower on concerns over the future earnings prospects of the banking stocks. Allied Irish Bank dropped 3.2% to 12.85, Anglo Irish Bank eased 4% to 7.73 while Bank of Ireland fell 12c to 10.55. Irish Life and Permanent fell 36c to 9.90, dipping under the 10 Euro level for the first time in seven weeks.

Elsewhere DCC advanced 20c to 11.50, Ryanair gained 17c to 5.95 and Glanbia added 5.4% to 1.55. On a negative note, CRH was 30c weaker at 13.90 while Jurys Doyle fell 15c to 8.35.