Market down as euro declines

THE ISEQ dropped 33.33 points to 2,888.22 yesterday as markets throughout Europe weakened.

The euro fell nearly 1% against the dollar after eurozone ministers failed to reach agreement on how to tackle the Greek debt crisis. Also, ratings agency Moody’s said it was reviewing the ratings of BNP Paribas, France’s biggest bank, Societe Generale and Credit Agricole, due to their exposure to Greek debt.

In the financial sector, Bank of Ireland dipped 0.3c to 12.8c. AIB gave up 0.7c to 16c. Irish Life & Permanent added 0.3c to 6.8c, while insurance company FBD Holdings slipped 2c to €7.38.