Iseq slips under 3,000 points

The Iseq index dropped below the 3,000 level yesterday to close down 52.16 points at 2,961.79.

Finance ministers from the G-7 group of countries are due to host a conference call today ahead of the G-20 meeting on June 18 and 19.

They are expected to put pressure on the EU to take further measures to ease the regions worsening debt crisis.

Spain’s treasury minister Cristobal Montoro has said that the country’s high borrowing costs mean that they are effectively shut out of the bond market.

In the financial sector, Bank of Ireland gained 0.3c to 8.9c. AIB slipped 0.3c to 6.2c. Irish Life & Permanent were unchanged at 2.6c, while FBD Holdings added 44.9c to €8.49.

In the construction sector, CRH dropped 25c to €12.99. Grafton advanced 12.4c to €2.75, while Kingspan dipped 7.6c to €6.59.

In other news, Independent News & Media increased 3.1c to 28.1c, Kerry Group decreased 51.5c to €33.85, while Ryanair shed 12c to €3.93.