Market falls in line with peers

The ISEQ index retreated a further 16.78 points yesterday to close at 3,101.84, in line with other European and world markets.

Stocks fell as EU finance ministers refused to sign off on a new Greek bailout until the country’s parliament approves tough new austerity measures.

Investor confidence fell because a disorderly default has the potential to rock equity markets by casting doubts on the situation of other debt-laden countries in the European periphery, such as Portugal, Italy and Spain.

In the financial sector, Bank of Ireland slipped 0.5c to 14c. AIB fell 1c to 12.7c. Irish Life & Permanent dipped 0.2c to 5c, while insurance group FBD Holdings gained 15c to €7.45.

In the construction sector, CRH dropped 30.5c to €15.23. Grafton Group added 3c to €2.83, while Kingspan wasunchanged at €7.28.