Market follows downward trend

Markets across Europe and many of the other jurisdictions were down yesterday for a second day running.

This has occurred on the back of some profit-taking early this weekfollowing a jump in markets at the end of last week as a result of positive intervention from central banks in Europe and the US. The Iseq index finished down 13.66 points at 3,267.88.

Irish banks were steady on the day, with all three quoted banks closing as they did on Monday evening. AIB was 5.9c, Bank of Ireland ended at 9.9c, and Permanent TSB Group finished at 2.5c.

Construction stocks were off across the board as CRH dropped 15c to close at 15.31. Grafton Group and Kingspan followed suit, losing 3.5c and 18.3c respectively to end the session at 3.36 and 7.924.

In other news, bookmaker Paddy Power was amongst the best performing stocks on the Irish market. The share price improved 125c to 56.40. Origin Enterprises continued its recent good run by adding 11.8c to 4.22.