Market falls as shares sold off

THE ISEQ index yesterday dropped 41.13 points to 2,946.05 as investors chose to cash in some profits on bank shares after last week’s modest rally.

Otherwise, it was a relatively quiet day on the Irish market with nomajor newsflow.

In the financial sector, AIB fell 8.7c to €1.85, Bank ofIreland weakened 10.2c to €1.77, Irish Life & Permanent relinquished 20.5c to finish at €4.44 while insurance group FBD Holdings slipped 1.2c to €6.88.

In the construction sector, shares in Kingspan, jumped 22.9c to €5.62 after it said that overall trading has been steadier over recent months and it expects its operating profits for the year will be about €60m. CRH added 12c to 17.49 while Grafton shed 4c to €3.26.