Market drops for fifth day running

SHARES in Dublin finished in the red for the fifth consecutive day. The ISEQ ended 17.37 points lower at 6786.65.

The financials gave up ground, with AIB and Bank of Ireland closing lighter on moderate volume, down 9c and 7c. In the second line, Anglo Irish firmed 10c to €11.50 while Irish life and Permanent advanced 27c to €15.15.

C&C Group posted better than expected first half pretax profits of €58.1m against €50.5m for the same period last year. This increase was driven mainly by very strong performance in the cider division with profits up 26%. The share price rose 11c to €5.26.

In construction, CRH shed 12c to €22.45 while Kingspan and McInerney both closed unchanged at €10.20 and €8.85. Elsewhere, Jurys Doyle Hotels announced the sale of its Ballsbridge site would be delayed, but the share price held its own at €18.70. Elan nudged ahead €6.75.