Market down ahead of Greek talks

THE ISEQ dropped 5.64 points yesterday to close at 2,880.99.

The deadline for agreement on the next tranche of Greece’s aid package has been pushed back to July. Markets await the result of the vote of confidence in the reshuffled Greek cabinet later today, while the risk of default continues to affect confidence in all euro-area peripherals.

In the financial sector, Bank of Ireland published the full prospectus for its capital raise over the weekend; in which it includes the option for a direct placing of up to 794.9 million ordinary shares at 10c per share on July 8. This equates to up to 15% of the current issued share capital of the bank. Shares in Bank of Ireland were unchanged at 12.7c. AIB added 0.2c to 16c. Irish Life & Permanent gained 0.5c to 7c, while insurance company FBD Holdings lost 9c to close at €7.21.