Market overshadowed by peers

THE ISEQ index had another minor gain yesterday closing up 7.43 points at 2,472.58.

This was in contrast to markets throughout Europe which moved lower as positive reaction to the financial rescue packages ebbed due to worries about the bottom- line impact on government balance sheets.

Also, the president of the European Central Bank Jean Claude Trichet said that he was ready to cut interest rates, but declined to say when or by how many percentage points.

Irish Life & Permanent led the way among the main financials jumping 16c to €1.39. AIB added 7c to €2.40, Bank of Ireland gained 8c to €1.38 while Anglo Irish Bank weakened 4c to 88c.

In the construction sector CRH progressed a further 2c to €17.20, Kingspan increased 17c to €3.33 and Grafton closed down 2c at €2.38.