Greek fears play on markets

Continued political instability in Greece further heightened fears that the country stands on the brink of bankruptcy and a eurozone exit.

Politicians in Athens failed to form a Government and fresh elections have been called as a result. Equities across Europe dropped and yield spreads between Germany and the rest of Europe widened as contagion fears rose. The ISEQ index fell 3.57 points to 3,084.74.

Financial stocks were mixed as AIB shed 0.4c to 6.6c. Bank of Ireland and Irish Life and Permanent both made narrow gains. Both tacked 0.2c to finish at 9c and 3.3c. FDD Holdings shed 3.6c to €8.36.