Markets slide across Europe

European stocks continued to slide on Friday with rednumbers across the board on all markets.

Early indications were that US shares were also going lower on the day as President Obama and Congressional leaders met to continue negotiations aimed at avoiding the potential fiscal cliff facing the states. The ISEQ index lost 17.05 points to finish at 3,178.07.

Bank stocks were mildly positive as AIB and Bank of Ireland tacked on 0.1c to 5.2c and 9.5c. Permanent TSB Group was flat at 2c. Insurer FBD Holdings was also unchanged at €9.20.

Construction sector shares were mixed. CRH lost 22c to €13.60 while Grafton Group and Kingspan made ground. The former added 6.5c to €3.40 while the latter moved on 24.5c to €7.50.

Elsewhere, Paper and Packaging firm Smurfit Kappa slipped 8.4c or 1% to €4.54.