Market down after early gains

THE ISEQ Index opened yesterday’s trading in positive territory only to lose ground as the day progressed. It ended the day down 8.47 points at 2,972.07.

In the banking sector, Irish Nationwide, as expected, revealed record losses of €3.3bn for 2010 as it begins to merge its remaining loans with the remaining Anglo Irish Bank book. AIB closed marginally higher at 19.6c, with Bank of Ireland falling 0.2c to 21.4c. Irish Life & Permanent added 0.1c to 11.8c.

In construction, CRH dropped 29c to €15.46, Kingspan on the other hand advanced 3c to €7.03, while Grafton Group was 2c weaker at €3.53.