Iseq drops as ECB rates held steady

The Iseq index dipped 15.92 points, to close at 3,252.53.

The European Central Bank held interest rates at 1% when it met in Barcelona yesterday, resisting pressure to restart its bond-buying programme to ease pressure on Spanish debt. ECB chief Mario Draghi gave a more upbeat assessment of the eurozone economy than expected, reducing expectations for further monetary easing.

In financials, Bank of Ireland gained 0.1c to 10.9c. AIB remained at 7.8c. Irish Life & Permanent slipped 0.3c to 3.5c, while insurance group FBD Holdings added 0.1c to €8.801.