Markets in retreat mode

World and European markets continued a recent pullback as investors braced themselves by derisking in advance of what could be a tumultuous US third quarter earnings’ season.

Most of the US bluechips will announce results over the coming fortnight. The ISEQ index followed peers by shedding 0.7%, or 26.18 points, to finish at 3,240.98.

Irish financials were mixed on the day. AIB led the way, adding approximately 5.6%, or 0.3c, to 5.7c. Bank of Ireland was a laggard, losing 0.3c to 9.5c while Irish Life & Permanent remained steady at 2.6c. Insurance company FBD Holdings lost 9c to 9.84.

Construction stocks were weaker across the board. CRH dropped 2%, or 29.5c, to finish the day at €13.88 in Dublin. Grafton slipped 3c to €3.45, while Kingspan closed down 8.5c at €8.02.