Q1 results to herald a busy week

The Irish market followed its major European peers slightly lower yesterday to close down 18.14 points at 3224.45.

Concerns remain over the European debt situation with Spain joining the list of European countries officially in recession.

The week ahead promises to be a busy one with numerous European and US companies announcing first-quarter results.

Irish financials were mixed yesterday with AIB remaining steady at 7.5c. Bank of Ireland added 0.1c to 11.2c while Irish Life and Permanent also tacked on 0.3c to 3.7c. Insurer FBD Holdings added 10c to €8.75 as the company released an interim management statement prior to trading stating that unless exceptional events arise, the company expects it is in line to achieve its operating profit guidance.

Constructions stocks were also mixed as CRH shed 12.5c to €15.325. Grafton Group was unchanged at 3.30 and Kingspan finished 8c ahead at €7.88.

Elsewhere, United Drug and Independent News and Media both gained, climbing 6.5c to €2.315 and 1c to 26.5c respectively.