Market down on ESRI reports

INVESTOR confidence was further dented yesterday, as the ESRI warned of a possible recession later in the year. The ISEQ index slipped 105.45 to 5,289.11.

All the leading banks lost ground as the slide in share prices continued with no sign of abating. AIB and Bank of Ireland dropped 17c and 15c to €9.73 and €5.90. Anglo-Irish shed 12.6c to €6.62 as the company began legal proceedings over malicious rumours circulated about its funding earlier in the year. Irish Life and Permanent fell 12c to €8.60.