Market gains but weak overall

THE ISEQ index yesterday closed up 6.38 points at 2,873.07.

The market was weak throughout morning trading as weak performances by the main banks and Ryanair dragged the exchange lower. A strong opening by the US markets helped the Irish market to stabilise somewhat during the afternoon session.

In the financial sector, there is still continued concern over the slow progress through the Dáil of the Government’s €54 billion NAMA scheme. AIB closed down 19.8c at €1.67. Bank of Ireland fell 10c to €1.60, while Irish Life & Permanent bucked the trend with a rise of 31c to €5.24.