Market follows broad dipping trend

THE Dublin market followed European indices lower yesterday, falling for the first time in six days. The ISEQ index closed 48.96 points lower at 4681.06.

The financial stocks all succumbed to profit taking. Allied Irish Bank fell 27c to €13.03, Anglo Irish Bank slipped 13c to €9.52, while Bank of Ireland eased 9c to €10.86. Also weaker were Irish Life & Permanent and First Active losing 11c and 8c respectively.

Budget airline Ryanair fell 33c to €6.12 as investors become increasingly nervous ahead of the EU Commission’s ruling over Charleroi expected in early October. Strength was seen from IAWS Group, which climbed 18c to a year high of €9.08, ahead of its full year results next Thursday. Also higher was DCC, gaining 29c to finish at €10.64.