Iseq ahead despite Greek doubts

The Iseq index was slightly ahead yesterday, up 0.14 to 3131.94, despite a decision on the release of a further €130bn bailout for Greece being deferred until Monday.

While progress is believed to have been made on austerity measures, eurozone ministers are now seeking greater oversight of the Greek economy before the funds are released. Elsewhere US jobless claims for last week were at a new four-year low, suggesting the US labour market was beginning to recover.

Financial stocks were weaker on the day with AIB shedding 1.8c or 15% to 10.2c, while Irish Life and Permanent gave up 0.5c to 3.2c. Bank of Ireland remained flat at 12.6c and insurance group FBD was the only positive in the sector, adding 3c to €7.55.