Shares drop across Europe

SHARES slipped for the first day in five yesterday, mirroring declines across Europe. The ISEQ gave up 20.09 points overall to close at 6461.63.

The financial sector finished in the black up 18.33 points overall. Bank of Ireland shed 10c to €12.98 and Irish Life and Permanent rose 5c to €14.35. Anglo-Irish nudged ahead 2c to €10.00. AIB advanced 15c to €17.97 with upcoming entry to the Eurostoxx 50 the main catalyst.

CRH and McInerney both lost pace, down 22c and 7c. Grafton Group announced the completion of a $325m private placement of debt with a group of US investors but still ended 16c lighter at €9.34. Kingspan managed a 1c rise to €10.00.