Market falls over rate rumours

SHARES in Dublin fell back once again as rumours spread of a further interest rate hike in the US.

The ISEQ index closed down 54.03 points to 7,363.11.

The financial sector dropped 152.46 points. AIB gave up 11c to close at €18.28. Bank of Ireland fared no better shedding 29c to €140. The group yesterday announced details of a joint venture with US private equity specialist Paul Capital Partners. Anglo-Irish eased back 6c to €11.14 while Irish Life & Permanent closed 29c weaker at €18.00.

In construction, CRH declined 8c to €25.21 despite the possibility of it completing its largest acquisition to date by purchasing US materials company APAC. Grafton eased back 6c to €9.64, Kingspan shed 16c while McInerney closed down 9c to €11.40.