Uncertainty cause stocks to fall

THE ISEQ index fell 40.74 points to close at 2,638.62, in line with European and world bourses.

Market tension levels continued to build and uncertainty remained the dominant theme, as bond yields rose further in Spain, France and Italy. Investors were clamouring for a move from the eurozone to calm markets. Ratings agency Fitch said the outlook for US banks could deteriorate if the eurozone’s debt crisis is not resolved quickly.

In the financial sector, Bank of Ireland fell 0.4c to 8c. AIB was unchanged at 8c, while Irish Life & Permanent added 0.1c to 3.3c. FBD Holdings slipped 20c to €6.10.