Hawkish sentiment hits market

THE ISEQ Index reflected European markets yesterday, closing 37.90 points lower at 3893.80.

Continued hawkish sentiment from Washington concerning Iraq left investors uncertain and market volume light.

Financial stocks performed poorly. Bank of Ireland lost 18c to 10.02 after it announced plans to merge its two British financial-advisory businesses and shed 350 jobs as part of a cost controlling exercise. Anglo Irish Bank slipped by 12c to 6.10.