Market plays the ECB waiting game

Shares in Dublin were on the decline once again as markets await further news of intervention by the ECB in tackling the eurozone debt crisis.

The Iseq Index closed 10 points weaker at 3154.1.

In the banking sector both Bank of Ireland and Permanent TSB Group Holdings lagged, dropping 0.4c and 0.5c to 8.3c and 2.5c respectively. AIB bucked the trend, adding 0.1c to 5.3c.

In construction CRH lost some of the previous day’s gains, giving up 6.5c to close at €14.405. Kingspan advanced 2.4c to €7.898, while Grafton Group shed 2.1c to €3.15 on the day.

Elsewhere insurance company FBD Holdings gave up 27c to €8.38 despite announcing encouraging half-year results, with EPS remaining within the company’s guidance of 145-155c. United Drug was 3c higher at €2.601 as the pharmaceutical company announced two further acquisitions (Drug Safety Alliance and Synopia) in the sales, marketing, and medical division, bringing its total acquisition spend in recent months to about €130m.