Market falls as oil drives inflation

THE ISEQ began the week yesterday with a fall of 11.07 points to 2,813.57. Weak growth in Japan added to concerns about the strength of the global economy,which has hit equity markets in the last number of weeks. Elsewhere, oil drove euro zone inflation to a 20-month high in July, but price rises are expected to slow inthe second half of the year as budget cutbacks weaken economic recovery.

In the financial sector, Bank of Ireland dipped 1.8c to 77c. AIB fell 3.6c to 80.2c. Irish Life & Permanent fell 3.4c to €1.65, while insurance group FBD Holdings followed suit losing 17c to €6.55.

In the construction sector, CRH increased 2c to €14.8. Kingspan declined 19c to €5.33, while Grafton Group gave up 7c to close at €2.74.