ISEQ falls on bank’s disposal news

THE ISEQ index dropped 4.49 points to close at 3,337.69. Bank of Ireland said it expects to sell some of its business divisions in order to gain European Commission approval for its State aid and restructuring plans.

The bank said it expected to dispose of its life and pensions business New Ireland Assurance, ICS Building Society and Bank of Ireland Asset Management.

In the financial sector, AIB slipped 11c to 1.50. Bank of Ireland shed 1c to 1.71. Irish Life & Permanent weakened 11c to 3.33, while FBD Holdings fell back 26c to 7.54. In the construction sector, CRH jumped 69c to 19.60. Kingspan declined 4c to 7.20, while Grafton Group slid 4c to 3.39.