Market continues downward slide

SHARES in Dublin closed lower for a fifth consecutive day, with the ISEQ losing 7.15 points to 5586.04.

Anglo Irish Bank strengthened 32c to €15.30, while Irish Life and Permanent rose to €12.91. On the down side, AIB and Bank of Ireland both closed weaker yesterday, losing 5c and 7c respectively.

Abbey Plc took a 25c hit to finish at €8.20, after announcing its intent to delist from the ISEQ, to move to London's AIM next month. Elsewhere in construction, CRH dropped 12c while Kingspan added 4c to €5.93.

Over 7.6 million shares were traded in Ryanair, the budget carrier nudged ahead 5c to €3.72. Other movers on the day were Elan, which eased 10c to €17.00, and Kerry, which declined to €17.50, a drop of 16c.