ISEQ finishes lower as ECB holds firm

The ISEQ index closed down 15 points at 2450. The European Central Bank kept interest rates on hold at 2% at its monthly meeting yesterday.

ECB president Jean-Claude Trichet stated that, while more rate cuts are imminent, a zero interest rate will not happen.

In the financial sector, AIB finished 6c weaker at €1.09, Bank of Ireland fell back 3c to 62c, Irish Life & Permanent jumped 12c to €1.72, while insurance group FBD Holdings closed down 20c at €7.60. In the construction sector, CRH fell 15c to €18.35, Kingspan added 3c to €2.57 and Grafton Group declined 3c to €1.60.