Financials take a dive

THE ISEQ closed 33.06 points weaker at 3842.90 yesterday.

Despite a 7c gain by Bank of Ireland to €10.22 the financial stocks performed poorly. Allied Irish Bank fell 23c to €12.20 and Irish Life and Permanent eased 24c to €11.40. Both were under pressure following speculation that Germany's Deutsche Bank will issue a profit warning. Anglo Irish Bank closed 7c lower to €6.05 on a day when the ISEQ Financial Index falling 64.43 points to 7944.36.

Budget airline Ryanair dropped 23c to €5.60 and hotel group Jurys slipped 10c to €7.45. Shares in ferry group Irish Continental also declined, losing 10c to €5.40. The food stocks had a steady day with Glanbia adding a cent to €1.50 while Kerry Group and Greencore remained unchanged at €12.83 and €2.72 respectively.

Other movers included Independent News and Media down 5c to €1.40 and Elan down 10c to €1.50. CRH lost 4c to €11.21. Gresham were a cent firmer at 65c.