Profit-taking puts brake on market

THE ISEQ suffered losses yesterday mainly due to weak performances from the big financials, subsequently lagging the recent positive momentum of the bourse. It closed 16.51 points down at 5284.31

The main reason for the drop in the banking heavyweights was the evidence of widespread profit-taking.

Irish Life & Permanent rose 10c to €14.00. Anglo Irish Bank was subject to profit-taking snipping 17c off shares to €14.00. AIB finished weaker, 3c down at €13.62 Bank of Ireland also had a similar day dropping 14c to €11.63.

Drug group Elan returned to upbeat trading, rising 3c to €6.95, whilst uneasiness over the pending decision on Ryanairs deal on Charleroi left the budget carrier unchanged from the previous day’s trading at €7.00.