Market in sharp decline

THE Irish market dropped sharply yesterday, giving back all of the gains made last Friday.

Further poor performance from the financials was the principal catalyst, as the ISEQ index closed down 84.04 at 7,785.31.

The financial sector saw AIB shed 51c to 16.60, while Anglo-Irish and Irish Life and Permanent were also down 25c and 5.8c to €12.65 and €15.08. Bank of Ireland followed trend losing 15c to €11.86 ahead of today’s pre-close statement.