Markets fall as banks stress tested

THE ISEQ index ended the trading week in negative territory yesterday, to close down 28.66 points at 2,861.69, as markets await the results of the latest European bank stress tests.

Rating agency, Standard & Poor’s, put further pressure on the US, warning that there was at least a 50% chance it would downgrade the US credit rating. US stocks rose in early trading after strong earnings from Google and Citigroup helped to lift investor sentiment.

In the financial sector, Bank of Ireland gained 0.1c to close at 10c. AIB was unchanged at 11c. Irish Life & Permanent added 0.1c to 4.1c, while insurance group FBD Holdings advanced 25.2c to €7.