ISEQ suffers further losses

The ISEQ suffered further losses to close down 15.83 points at 2,479.72.

Worries over the beleaguered banking sector continued to weigh. Deutsche Bank announced that it made a loss of €4.8 billion for the fourth quarter. In other news, the ECB cut its benchmark interest rate by 50 basis points to 2%.

AIB dipped 8c to €1.94, Bank of Ireland gained 4c to 90c, Irish Life & Permanent added 7c to €2.25, while Anglo Irish Bank fell 1c to 22c.

In the construction sector, CRH increased 21c to €17.56, Kingspan and Grafton stayed at €2.90 and €2.02 respectively, while McInerney Holdings was unchanged at 16c.

In other news, Ryanair lost 4c to €3.20, Aer Lingus fell 2c to €1.60, Elan weakened 46c to €5.40, while Paddy Power closed down 20c at €11.35.