Market slide continues

THE ISEQ continued its downward slide with the banks, construction, and Kerry Group mainly accounting for the fall. It ended down 218.22 at 7361.37.

The financial sector dropped 447.04 points with all of the banking stocks in negative territory. AIB was 55c lower at €17.50. Bank of Ireland and the IBOA were due to meet the Labour Relations Commission yesterday looking for a resolution to the training issue and outsourcing operations to Accenture. Irish Life and Permanent and Anglo Irish dropped 44c and 70c.

CRH lost 85c to €25.40. Grafton Group dropped 45c in share price to €9.65. Kingspan fell 49c to €12.42. Kerry Group’s cautious trading statement on Friday continued to impact the price and it declined a further €1.10 to €16.90. Elan bucked the trend up 64c to €13.95.