Banks weaker, but IL&P closes up

THE ISEQ index closed down 65.51 points at 2,866.77. A day after Standard and Poor’s cut Ireland’s sovereign debt rating to AA, Moody’s said it is concerned about Ireland and will conclude the review of its AAA rating after a visit to Dublin in the next few weeks.

In the financial sector, AIB dropped 5c to €1.94, Bank of Ireland weakened 4c to €1.96, Irish life & Permanent dropped 3c to €3.70, while insurance group FBD declined 6c to €7.68.

In the construction sector. CRH fell 35c to €17.40, Kingspan added 5c to €4.75, while Grafton Group decreased 15c to €3.08.