Market falls amid Libyan violence

THE ISEQ index fell 48.8 points to 2,956.59 yesterday.

Oil prices charged to fresh two-and-a-half-year highs due to increasing violence in major producer Libya, which fed investor fears about rising inflation and unsettled other markets.

European equities fell more than 1% on acombination of uncertainty over the future of oil prices, increasing signs that higher interest rates may be coming and more evidence of a surprisingly poor earnings season.