Lack of rate cut boosts bears

THE ISEQ Index closed in negative territory in line with European bourses as the European Central Bank decided to leave interest rates unchanged at 4%.

The Dublin Exchange fell 196 points to 6,182.

Financial heavyweight AIB dipped 28c to 13.04. Bank of Ireland was 28c lower at 8.87 while Irish Life and Permanent was 23c worse off at 10.57. Anglo lost 90 cents on the day to 8.68 despite releasing a trading update reaffirming earnings guidance at 15% for 2008.