Market retreats after record run

THE ISEQ fell into the red yesterday following its recent record-breaking run. The benchmark index of Irish shares fell 46.32 to 8,381.43.

Financial stocks weighed heavily on the index as fears over continued rises in interest rates unnerved investors. AIB shed 12c to €20.82, while Bank of Ireland gave up 4c at €15.42. In the second line Irish Life & Permanent dropped 11c to €19.49 and Anglo-Irish was 8c lower at €13.52.

Aer Lingus added 5c to €2.95, with Ryanair dropping 13c to €8.50. Elsewhere Elan shed 25c to €12.20.