Banking drags back market

THE Irish market suffered another setback yesterday as the banking sector fell significantly.

The ISEQ index dropped 57.78 to end the week at 6,477.92.

An interim management statement issued by Bank of Ireland reported a cut in EPS guidance of 4% for the full year to the end of March. Each of the four main banks suffered losses on the back of this news with AIB and Anglo Irish down 55.2c and 41.5c to €13.10 and €9.08. Irish Life and Permanent shed 13.7c to €10.25 and Bank of Ireland itself fell 13.3c to €9.307.