Market hovers near 2,000 mark

The ISEQ index closed down 28.97 points at 2,019.39. The ECB cut interest rates to an all-time low of 1.5%, keeping up a record pace of reductions as the eurozone economy continues to slide further into recession.

The financial stocks endured another miserable day. AIB weakened 7c to 27c, Bank of Ireland plummeted 5.5c to 12.5c, Irish Life and Permanent fell 11c to 80c, while insurance group FBD lost 70c to close at e6.

In construction, CRH dived e1.20 to e15, Grafton Group shed 4c to e1.40 and Kingspan slipped 7c to e2.21.