Market rally runs out of steam

THE ISEQ index kept its head just above the 3,000 mark yesterday, closing down 31.38 points at 3,005.69.

Markets ran out of steam after the previous day’s rally and were focused on debt talks between Greece and its private creditors. In the US, stocks dipped slightly on the open, after GE and Google results fell short of expectations.

In the financial sector, sales of life and pensions products were down 8% in 2011 according to figures from actuarial consultants, Milliman. This represents three straight years of decline, reflecting the economic downturn.