Markets retreat across Europe

European markets experienced a pull back yesterday as stocks across all markets and most sectors lost momentum after a strong beginning to the week.

Despite this, markets were up on the week overall. Investors failed to find a catalyst at the end of the week as they continued to digest earnings’reports from companies on both sides of the Atlantic and awaited further progress from EU summit. The Iseq index fell 22.45 points to finish at 3,240.24.

Irish bank stocks were weak, mirroring the performance of European and US peers. AIB shed 0.1c to 5.5c. Bank of Ireland and Permanent TSB Group fell 0.2c and 0.1c to 9.4c and 2.4c.

The construction sector was also weaker as CRH gave back more of its gains from earlier in the week. The stock gave up 36.5c to end down at €13.98. Kingspan lost 22.5c to €8.15, while Grafton Group was 12c worse at €3.33.