Shares fall despite Spanish bailout

The Iseq Index fell 32.10 points yesterday to close at 3,206.00.

The German parliament approved a €100bn Spanish bank bailout on Thursday and EU finance ministers formally accepted a memorandum of understanding with Spain yesterday. European shares dropped and Spain’s borrowing costs remained around the 7% level.

In the financial sector, Bank of Ireland slipped 0.2c to 9.4c. AIB dipped 0.2c to 5.1c. Permanent TSB were unchanged at 2.2c, while insurance group FBD Holdings fell 1c to 7.90. In the construction sector, CRH decreased 19c to 15.16. Grafton dropped 4.5c to 2.80, while Kingspan gained 4.7c to 6.805.