Markets wait and watch on Portugal

THE ISEQ index dipped 6.45 points to 2,864.39 yesterday.

Yields on Portuguese debt rose as pressure increased on Lisbon to seek financial aid, with investors looking to a bond auction later this week as a measure of the country’s ability to fund itself. Spanish and Italian bond yields also rose, pushing spreads over the 10-year German benchmark to their widest since December 1.

In the financial sector, AIB added 1.4c to 28.6c. Bank of Ireland declined 1.7c to 31.5c. Irish Life & Permanent fell 2.2c to 85c, while insurance group FBD Holdings fell 3.5c to €6.31.

In the construction sector, CRH tacked on 19c to €14.49. Grafton Group gained 3c to €3.33. Kingspan progressed 7.6c to €7.69, while housebuilder Abbey Plc decreased 15c to €5.10.