Market down on light trading

THE Irish market slipped 16.29 points to 2,827.99 in relatively light trading yesterday.

Other European shares were also little changed with the US markets closed for the Independence Day holiday.

Still, European bank shares were edgy as fears continued over the impending bank stress tests and worries over the strength of the global recovery.

In the financial sector, AIB gained 5c to 86c. Bank of Ireland dipped 1c to 62c. Irish Life & Permanent added 5c to €1.48, while insurance company FBD Holdings dropped 14c to €6.56.