Profit-taking hits market

SHARES in the Irish market dipped slightly as profit-taking in the banking stocks weighed on the index. The ISEQ fell 38.98 points to close at 7831.88.

The financial sector gave up 167.28 points overall with AIB down 16c to €18.98 with over three million shares changing hands. Bank of Ireland also finished in the red, down 31c to €14.79. In the second line, Anglo Irish gave up 17c to €13.48 while Irish Life and Permanent bucked the trend, advancing 7c to €18.05.

In construction, CRH reported a 16% rise in profit before tax to €1,279m for the year to the end of December, reflecting a strong US performance. The share price was down 20c however at €27.35. Kingspan shed 10c to €11.70 while Grafton Group nudged 1c higher to €10.31.