Global markets show decline
German commentators described the saga as “the never-ending story” and investor worries over the US fiscal cliff. There was a more positive mood in Dublin as AIB raised €500m in a covered bond issue outside the Government’s guarantee. Orders received by the bank totalled €2.3 billion meaning the issue was over subscribed. The Iseq index traded slightly up on 3,268.94 up 11.49 points on the day.
Financial stocks were flat to slightly ahead with only Bank of Ireland gaining 0.05c or 4.85% to close on 10.8c. AIB and Permanent TSB Group Holdings were unchanged at 5.3c and 2.2c. Insurer FBD Holdings added 5c to finish on €10.35.
