Iseq falls on fears recovery faltering

The Iseq index dropped 36.49 points yesterday to close at 3,262.76. Markets fell after poor manufacturing data in both the eurozone and China fuelled worries that the global recovery may be faltering.

In the financial sector, AIB has announced the end of free banking for current accounts. Customers who fail to keep a credit balance of at least €2,500 in their current account will have to pay a €4.50 quarterly charge and transaction charges of between 20c and 30c. Shares in AIB were unchanged at 10.3c. Bank of Ireland slipped 1c to 12.6c while Irish Life & Permanent remained at 4.5c.

In the US construction sector, there has been a further three-month extension to the Highway Bill, creating more uncertainty. CRH dropped 25.5c to €16.025. Grafton dipped 7c to €3.16, while Kingspan decreased 1.5c to €7.95.