Market falls as Spain sells bonds

The Iseq index dropped yesterday to close down 14.32 points at 3,210.53.

Spain managed to sell €2.5bn of 2-year and 10-year bonds at an auction yesterday. Yields on the 10-year bond rose after the auction, suggesting investors remain concerned about the country’s long-term fiscal sustainability.

In the financial sector, Bank of Ireland remained at 11.7c. AIB added 0.2c to 7.3c. Irish Life & Permanent dipped 0.7c to 2.9c, while insurance group FBD Holdings advanced 15c to €8.85.