Market continues downward trend

The ISEQ index mirrored declines across Europe yesterday and fell for a fourth day in succession. Despite staying ahead for most of the day's trading, the index closed 12.97 points lower at 5417.27.

Elan recovered from Wednesday's profit taking and gained 45c to finish at €20.00.

Allied Irish Bank added 7c to €12.27, while Anglo Irish Bank rose to €13.74. On the downside Irish Life & Permanent slipped to €13.42, while Bank of Ireland shed 7c to e10.28.