ECB forecast brings bears out

THE Irish market had another bleak day as economists for the European Central Bank cut forecasts for eurozone growth in 2008.

The ISEQ closed 60 points worse off at 6,535.

The banking stocks felt positive and negative movements. AIB dropped 35c to 13.65. Bank of Ireland dipped 12c to 9.44 ahead of their trading statement. Irish Life and Permanent gained ground adding 7c to 10.39 while Anglo fell back 10c to 9.50.