AIB hit hard as market slumps

FROM the outset the Irish market was dwindling and slumped into another sizeable decline which was spread across the day’s trading session. The ISEQ closed down 63.27 points at 5123.27.

AIB has once again been hit hard, shedding 28c to €11.92. Bank of Ireland was resilient only dropping to €10.00, slipping 7c. Elan plummeted ahead of the company's first quarter results being published today, dropping €1.05 to finish at €16.60.

In light of the Grafton Group AGM, a statement was released that the company has returned good growth in earnings for Q1 2004. Current trading is broadly in line with their British peers. They closed down 5c to €6.00.