Market dips as Fitch affirms ratings

The ISEQ index dropped 2.52 points to close at 3,065.82. Investors took profit after strong gains in the previous session and await today’s key US jobs report and an expected resolution to the Greek debt restructuring.

In the financial sector, Fitch affirmed the ratings of AIB, Bank of Ireland, Irish Life & Permanent and IBRC. All were on ratings watch negative (RWN), but the affirmation of the ratings removes the RWN threat, imposed on Dec 20. However, they still have negative outlooks. Bank of Ireland added 0.8c to 13c. AIB slipped 0.2c to 7.5c, while Irish Life & Permanent gained 0.5c to 3.7c.

In construction, CRH dropped 17c to €15.33. Grafton Group fell 3c to €2.68, while Kingspan fell 6c to €7.24.

In other news, Aer Lingus has announced it is extending its venture with Aer Arann. Shares in Aer Lingus closed up 2c to 89c.