Market down ahead of US decision

THE Irish market lost ground yesterday morning as investors awaited developments on the proposed US financial bailout, reaching an intraday low just prior to the US market opening.

Despite no solid progress being announced, the US markets remained relatively solid, making small losses. The ISEQ index rallied on the back of this and finished the session down 41.41 points at 3,784.77.

A mixed day for the financial sector saw AIB and Irish Life and Permanent lagging 40c and 15c to €6 and €5.75. Bank of Ireland added 1c to €4.10, while Anglo-Irish gained 11.2c to €4,276.