Market falls in nervous trading

THE ISEQ fell 31.40 points to end the session at 2654.70. The yield demanded by investors to hold Irish sovereign bonds edged back towards the 9% level this morning despite the Four Year Plan unveiled by the Government on Wednesday.

In the financial sector, ratings agency, Moody's yesterday said it has placed Ireland's banks on review for a possible downgrade because Ireland's sovereign debt rating is facing a downgrade.

AIB dropped 3.4c to 30.6c. Bank of Ireland slipped 1c to 25.6c. Irish Life & Permanent fell 3.3c to 60c, while FBD Holdings tacked on 4c to 6.04.