Market slips after recent gains

THE Irish market followed the trend seen on all major world markets by trading lower yesterday.

Despite a recent run of positive days and a bright start to yesterday’s session, the ISEQ index slipped back to a 72.09 point loss to 2,377.65.

It was a mixed day for the financial sector with AIB and Bank of Ireland moving on 2c a piece to close at 88c and 68c. The former announced yesterday morning that it was looking to raise a further €1.5bn of tier one capital, with asset disposal believed to be the main area being considered. Irish Life and Permanent bucked the trend, losing 5.8c to €2.09.