Market static despite reports

THE ISEQ index closed down 4.45 points yesterday at 4,858.78 after a number of weekend stories about financing problems in construction and tourism companies.

AIB dropped 23c to €8.97, Bank of Ireland was 12c weaker at €5.06 ahead of tomorrow’s AGM and a short trading update. Irish Life and Permanent fell 59c to €5.36 after global ratings agency Moody’s cut its outlook on the group to negative. Anglo Irish Bank finished at €5.47, a small gain of 2c.

In the construction sector, CRH lost 35c to €16.27. Kingspan dipped 8c to €5.62, while Grafton added 6c to €3.11.