Market down on borrowing fears

THE ISEQ lost 31.51 points yesterday, to close at 2,607.11.

Markets fell amid fears that borrowing costs in severaleurozone countries are reaching unsustainable levels. The ECB has had limited success in its efforts to contain yields by buying bonds.

In the financial sector, Bank of Ireland slipped 0.1c to 7.9c. AIB shed 0.5c to 7.5c, while Irish Life & Permanent edged 0.1c lower to 3.2c. FBD has published an interim management statement for the second half of 2011 in which it is raising its operating earnings per share guidance by about 1%, from 145c-155c to 155c-165c. The uplift mainly relates to a better-than-expected claim’s ratio. Shares in the company closed up 45c to €6.55.