ISEQ falls as ECB rates unchanged

THE ISEQ index dropped 27.89 points yesterday to close at 2,919.30. The ECB held its main interest rate at 1% at yesterday’s policy meeting, as the common currency area’s economy showed vague signs of stabilisation.

The Bank of England also left interest rates unchanged at a record low of 0.5%.

In the financial sector, Bank of Ireland remained at 8.5c. AIB added 0.1c to 6.2c. Irish Life & Permanent was unchanged at 2.6c, while insurance group FBD Holdings gained 5c to €7.20.

In the construction sector, data released by the American Road Transportation Builders Association show that funds obligated to highways in the first three months of the current federal fiscal year (October-December) were $2.47 billion (€1.92bn), which is down significantly on last year’s $3.53bn. CRH lost 8c to €14.96.

Grafton Group gave up 1.3c to €2.537, while Kingspan advanced 17.5c to €6.747. In other news, Kerry Group dropped 14c to €28.50, Ryanair fell 10.7c to €3.803, while Paddy Power held at €43.75.