Market virtually static

THE ISEQ index slipped back 1.90 points to 2,924.05 yesterday as investors focused on retreating oil prices and their possible impact on the economic recovery.

The euro rose to a five-week high against sterling on growing expectations the European Central Bank will raise interest rates before the Bank of England.

In the financial sector, insurer FBD reported a 41% increase in full-year operating profit, but says it expects earnings growth to slow on weak consumer demand.