Market on downhill trend
The ISEQ index has fallen every day bar one in the last fortnight. Weak US economic data and high levels of debt in Europe continue to worry investors. Wall Street fell to its lowest close in almost a month after a report showed factory activity in the mid-Atlantic states contracted in August for the first time since July 2009.
In the financial sector, bank stocks dragged on the main euro indices. Bank of Ireland shed 0.8c to 76.2c. Allied Irish Banks dipped 0.4c to 81.1c. Irish Life & Permanent fell 8.6c to €1.46, while insurance company FBD Holdings was a positive mover with a gain of 4.3c to €6.82.
