Financials under pressure

A GAIN for the ISEQ index for a fourth consecutive day was not to be, as the market fell 5.74 points to 4183.22.

Pressure on the financial stocks in London was reflected in Dublin as the bigger banks slipped back. Allied Irish Bank was 5c off at 13.65. Bank of Ireland lost 10c to 10.30 while First Active fell 5c to 5.55. Anglo Irish Bank fell 5c to 6.86. Overall, the ISEQ financial index closed 47.98 points weaker at 8394.03.

Construction heavyweight CRH gained 27c to 12.40 on what proved a mixed day for the sector. Readymix added 6c to 1.26. Kingspan was unchanged at 1.78 while Grafton was weaker, down 2c at 3.48.

Food Stocks were lower despite Kerry Group adding 4c to 13.10. Glanbia and IAWS fell 2c to 1.45 and 7.50 respectively while Greencore lost 11c to 2.60. Fyffes were steady at 1.40.

Elsewhere in Dublin, Jurys Doyle fell 5c to 7.15 after posting a 2.5pc increase in interim profits, returning to profit growth after earnings slipped 8pc in 2001. Also in the news, Elan gained 20c to 295 after naming Merrill Lynch executive G Kelly Martin as its new chief executive.