Jitters hit market on Spain concerns

The ISEQ index dropped 2.35 points yesterday to close at 3,139.34. Eurozone debt fears have resurfaced, with Spain the main focus of the concern.

Spain’s economy minister, Luis de Guindos, refused to rule out a rescue for the country, while Bank of Spain governor Miguel Ordonez warned that banks could need additional capital if the economy weakened more than expected.

In the financial sector, Bank of Ireland added 0.3c to 10.6c. AIB fell 0.1c to 7.4c. Irish Life & Permanent gained 0.1c to 3.2c, while insurance group FBD Holdings slipped 5.3c to €8.79.

In the construction sector, the latest Irish construction PMI shows that construction activity continued to contract in March. The index came in at 46.7, up slightly from 45.8 in February and 46.4 in January.

CRH advanced 21c to €14.81. Grafton was 0.1c better at 3.08, while Kingspan decreased 2.5c to €7.37.

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