War contributes to fall in ISEQ index

EUROPEAN shares faltered yesterday on fears a lengthy war would damage hopes of an early economic recovery.

Although the Irish market fared better than most European indices, the ISEQ index fell 28.37 points to 4021.87.

The main financial stocks lost ground with Allied Irish Bank slipping 1.5% to 12.98 and Bank of Ireland fell 10c to 10.00. Ryanair dropped 6c to 6.64 in line with other major airlines, as the sector suffers from reduced ticket sales and higher insurance costs as a result of the war. Sherry Fitzgerald rose for a third day, by 10c to 1.70.