Market falls as Spain debt cost rises

The ISEQ Index shed a further 21.95 points yesterday to close at 3,061.63.

The US Federal Reserve delivered another round of monetary stimulus and said it was ready to do even more to help an increasingly fragile US economic recovery.

US manufacturing grew in June at its slowest pace in 11 months and new job creation dropped as overseas demand for US products fell.

The cost of Spanish debt rose to 15-year highs for medium term bonds, despite comments from Angela Merkel that the bailout funds could be used to buy government bonds.

In the financial sector, Bank of Ireland remained at 9.4c. AIB added 0.2c to 6.8c. Permanent TSB held at 2.5c, while Insurance Group FBD Holdings were unchanged at 8.12.

In the construction sector, CRH dropped 22.5c to 14.155. Grafton slipped 1c to 2.69, while Kingspan dipped 2c to 6.50.

In other news, Aer Lingus shed 3.5c to 1.05, Ryanair gained 1c to 4.02, while Kerry Group advanced 40c to 33.735.