Profit-taking hits financials

SHARES in Dublin reflected the general mood in markets worldwide yesterday. The ISEQ was weaker all day eventually finishing 23.54 points off at 4055.34.

Profit-taking on the banks was the main instigator of the drop, with Allied Irish Bank 17c off at 13.03, Bank of Ireland down 14c at 10.49 and Irish Life and Permanent closing 15c worse off at 11.70. Anglo Irish Bank was 2c softer at 6.24 while the ISEQ financial index closed 100.14 points lower at 8278.97.

CRH continued to lose ground as results from a US peer returned a fall in third quarter profit. The stock slipped 32c to 13.15. Kingspan was a cent weaker at 1.60 while Grafton was unchanged 3.58.

Food stocks had a mixed day with Kerry down 10c at 13.00 and Fyffes off 3c at 1.37. Glanbia finished unchanged at 1.58 while Greencore added 4c to 2.54. Other stocks in positive territory were Irish Continental up 10c at 6.25 and Gresham Hotels 2c firmer on 63c.