Market dip in line with world peers

THE ISEQ index edged slightly lower yesterday, to close down 4.68 at 2,550.41, in line with world markets.

In Spain, last weekend’s victory for the centre-right People’s Party has done little for investor confidence, as yields on short-term bills hit their highest levels in 14 years.

In the financial sector, Bank of Ireland has offered to buy back up to €€1bn of securitised mortgages. The €€1.5bn of Kildare and €€1.8bn of Brunel No 1 securities will see the bank offer a minimum purchase price ranging from 28%-92%, though closer to the latter on the larger chunks of the portfolios. Shares in the bank closed down 0.1c at 7.7c. AIB dipped 0.6c to 6.7c. Irish Life & Permanent shed 0.3c to 3.2c, while FBD was unchanged at €6.35.