ISEQ weakens 53.51 to 2,701.83

The ISEQ index weakened 53.51 points to 2,701.83. The International Monetary Fund (IMF) is predicting that Irish GDP will fall by 13.5% between 2008 and 2010, and unemployment will rise to 15.5% next year.

Also, the Quarterly National Household Survey for the first quarter of this year from the CSO showed 53,000 more people joined the dole queues compared with the last quarter of 2008.

In financials, AIB fell 12c to 1.74, Bank of Ireland fell 13c to 1.77, while Irish Life & Permanent dipped 6c to 3.10.