Banks bear brunt of fall

THE ISEQ closed 26.37 points weaker at 4188.30 yesterday.

Overall it proved a poor day again for the banks. Irish Life and Permanent slipped 62c to 12.16 as the group's first half profit of €95.2m came in below market expectations.

Bank of Ireland dropped 30c to 10.90, while Anglo Irish Bank was 6c off at 6.16. Allied Irish Bank added 13c to 12.18 on reports that it is preparing to divest its US subsidiary, Allfirst, by the end of the year.