Market falls after ECB links

THE ISEQ Index returned to the red yesterday reacting negatively to ongoing pressure being applied to the Government by the ECB and its other eurozone peers to apply for aid, thus avoiding problems spreading to other countries and impairing the global recovery.

Meanwhile, the minister for finance continued to maintain that Ireland needs no bailout and is fully funded up to the middle of 2011. The ISEQ closed down 38.73 at 2,658.32.

Financial stocks closed in negative territory with AIB shedding 1.4c to 39.3c and Bank of Ireland easing back by 0.5c to 39.1c. Irish Life & Permanent was 5.1c lower at 81.9c with FBD Holdings sliding a further 9c to €5.57.