Market down as outlook slackens

THE ISEQ index fell 52.40 points yesterday, to close at 2,908.12 points.

Already some of the early yearenthusiasm seems to be waning with markets worrying about the weak growth outlook. Financial stocks were the biggest losers amid concerns that cash-strapped markets will make it expensive for them to raise capital and for eurozone countries to refinance debt.

In the financial sector, AIB dropped 0.3c at 5.8c. Bank of Ireland slipped 0.2c to 8.3c. Irish Life & Permanent were unchanged at 2.7c, while FBD dipped 20c to €6.50.