Market follows European trend

MARKETS across Europe were weaker yesterday and the ISEQ index mirrored this negative trend, falling 26.51 points to 4511.09.

Financial stocks were mixed. Allied Irish Bank dropped 12c to €12.53 while Irish Life & Permanent added 13c to €10.55 and Anglo Irish Bank gained 7c to €8.52.

Pharmaceutical company Elan slipped 62c to €4.20, having advanced significantly over the previous two sessions. Small cap IWP rose 4c to 35c following an announcement that the management team has begun buyout talks. Other significant movers included Irish Continental Group, up 24c to €8.94, Grafton Group eased 40c to €4.35 while DCC closed at €10.55, down 20c.