High oil prices weigh on market

THE ISEQ index declined yesterday mirroring other European bourses as high oil prices weighed down the markets. The index slipped 21.29 points to 6638.49.

In the banking sector, AIB lost ground down 2c to €17.50 on modest trading while rival Bank of Ireland shed 14c to rest at €12.75. In the second line, Anglo Irish also fell on the day losing 1c to close at €10.97.

Jurys Doyle dropped 75c to close at €17.10.

Telecommunications company eircom posted first-quarter profits of €60 million. The stock closed at €1.77.

Elsewhere Ryanair fell back 9c.While, at the opposite end of the stick, Dragon Oil added 13c to its share value reacting positively to historical high oil prices and crossed the line at €2.24.