Market retreats amid uncertainty

The Iseq index fell 8.94 points yesterday to close at 3,191.31. There was growing concern about the impact that higher oil prices would have on growth and a G20 meeting over the weekend failed to provide reassurance about international help to crisis-stricken Europe.

In the financial sector, Bank of Ireland added 0.3c to 13.8c. AIB dropped 0.8c to 12.2c. Irish Life & Permanent rose 0.2c to 4.5c, while insurance group FBD Holdings was unchanged at €8.65.

In the construction sector, Kingspan has reported EBIT of €91m for the 12 months to the end of December 2011, which was up 35% year-on-year and beat management guidance given in November of €82m-€85m. Shares in the company gained 7c to €8.05. CRH slipped 6.5c to €16.15, while Grafton Group dipped 8c to €3.37.