Banks lead market lower

THE ISEQ index opened the week by falling 28.12 points to 4486.94.

Bank of Ireland was the main casualty, with the shares dropping 23c to 11.62. This followed the cancellation of the C&C initial public offering, which was being managed by the bank's stockbroking unit.

Meanwhile, Allied Irish Bank slipped 7c to 13.08, Anglo Irish Bank lost 5c to 6.65 and IFG Group was 20c lower at 1.70. In positive territory was Irish Life & Permanent, which gained 5c to 14.20, while First Active was unchanged at 4.65.