Market falls in line with peers
It is becoming increasingly unlikely that an agreement will be reached on the US debt crisis by the August 2 deadline. Ratings agency Moody’s has put Spanish debt on review for potential downgrade, saying any change would likely be only by one notch. The euro came under more pressure as investors sought safer havens and the escalating US and European debt crisis affected market sentiment.
In the financial sector, AIB slipped 0.4c to 10c. Bank of Ireland dropped 0.4c to 10.5c. Irish Life & Permanent gained 0.1c to 4.8c, while insurance group FBD added 0.5c to €6.89.
