Banks pull index down

THE ISEQ index fell 96.43 points yesterday to close at 4141.74.

The banking stocks pushed the main index lower as the top line banks declined.

Allied Irish Bank fell 36c to 13.15 with Bank of Ireland 57c off at 9.95.

Irish Life and Permanent slipped 4c to 10.90 while Anglo Irish Bank was a cent softer at 6.92. First Active, however, added 2 to 5.32 following an upbeat trading statement from the group yesterday morning. Overall the ISEQ Financial index finished 264.70 points lower at 8175.84.

Elsewhere CRH was 50c off at 12.90 as RMC, the world’s biggest maker of ready mix concrete, said second half demand slowed due to cold and wet weather in parts of the US and Europe.

Other stocks in the building sector also declined. Grafton was 10c weaker at 3.55 and Kingspan finished 18c lower at 1.52. Kerry Group lost 5c on a mixed day for the food stocks. Greencore fell 10c to 2.60 while Glanbia and Fyffes closed unchanged at 1.50 and 1.26 respectively.

Others in positive territory included Paddy Power up 10c at 4.95 and Independent News and Media 5c firmer at 1.50.