Market down due to Fitch opinion

THE Irish market fell 98.01 points yesterday to close at 6,400.52 on the back of comments by international credit watchdog Fitch Ratings, which said that the amount of money Irish banks have tied up in property leaves them vulnerable if there is a downturn in the market.

AIB fell back 8c to €13.72. Bank of Ireland lost 21.5c to €9.28, Anglo Irish Bank shed 14.7c to €8.70, while Irish Life & Permanent dropped 12.9c to finish the week at €10.08.

Cement giant CRH lost 5c to finish at €25.90. Grafton Group decreased 17c to €5.26. Elan dipped 72.6c to €15.78. Kerry Group fell 30c to €19.41 while drink group C&C poured away 17c finishing at €4.42.