Main banking stocks fall 7% despite overall stock market gain

THE main banking stocks fell by a combined 7% yesterday, despite the Dublin market gaining 1.03% in total to close at 3,176 points.

AIB fell by 4.62% – 11c – to close at €2.31; while Bank of Ireland – on the back of news that it accidentally overcharged on a number of laser card transactions at the end of last week – was down by 2.72% (6c) at €2.22.

While the ISEQ’s upward movement was in line with the main European markets, it was to a level still well below most of its peers. London’s FTSE, for instance, surged by 1.14% to 5,004 points, yesterday, which was the first occasion this year it has breached the 5,000 point mark.