Financials take a tumble

SHARES in Dublin declined yesterday, in line with European markets, with the ISEQ index falling 95.42 points to 4010.00.

The major banking stocks followed their FTSE counterparts lower with Bank of Ireland losing 40c to 10.35 and Allied Irish Bank tumbled 25c to 12.05.

Irish Life & Permanent slipped 45c to 11.60 while Anglo Irish Bank also fell, closing 15c lower at 5.85.

First Active moved against the negative trend, rising 7c to 4.72.

Overall the financial index of shares lost 231.83 points to 7945.92.

Riverdeep Group rose 10c to 1.35 on the news that the company has not lowered their earnings forecasts following last month's acquisition of US software producer Broderbund LLC.

Elsewhere, Ryanair dipped 12c to 5.53, Jurys Doyle fell 15c to 7.85 while Gresham added 2c to 70c, ahead of its interim results, which are due to be announced tomorrow.