Market continues downward trend

THE Irish market started the week lower in line with most European markets as Commerzbank tumbled after agreeing a deal to buy Allianz’s Dresdner Bank for $14.5bn.

The ISEQ fell 17.72 to close at 4,477.20.

In the financial sector, AIB dipped 5c to €8.65, Bank of Ireland added 6c to €5.51, Irish Life & Permanent shed 6c to €6.30 while Anglo Irish Bank ended the day at €5.81, a drop of 14c.