Market advances on slow day

THE ISEQ index dropped yesterday, down 2.65 at 2,889.87.

In the US, non-farm payrolls rose 200,000 inDecember, well above the expected 150,000 gain. The unemployment rate dropped to 8.5%, its lowest level since February 2009.

Irish Life looks set to win AIB’s life business as the latter is in the process of ending its joint venture with Aviva at the end of its five-year joint venture agreement. The new deal is agreed in principle according to reports, with details to be hammered out over the coming weeks. AIB was unchanged at 5.8c. Irish Life & Permanent slipped 0.4c to 2.3c. Bank of Ireland dropped 0.1c to 8.2c, while FBD gained 14.9c to €6.70.