Iseq up as Greek exit fears continue

The Iseq index edged slightly higher yesterday, to close 17.63 points at 3,135.98. Continued political turmoil in Greece pulled markets lower, as the possibility of a Greek exit from the euro mounted. Unemployment in Greece hit a record high in February.

In the financial sector, Bank of Ireland added 0.1c to 9.8c. AIB gained 0.1c to 7.4c. Irish Life & Permanent fell 0.1c to 3.4c, while insurance group FBD Holdings fell 45c to 8.30.

In the construction sector, Grafton has reported that sales rose 5.3% in the first four months of the year, reflecting favourable currency movements, subdued volumes in Britain, and a difficult macro-backdrop in Ireland. Shares in the group fell 2.9c to €3.17. Shares in Kingspan rose 12c to €7.45 after management issued a trading statement for the first four months reporting that group sales increased by 8%.