Iseq slips slightly on uncertainty

The positivity of the last week came to a halt today as the Iseq lost 17.68 points to close on 3,330.09.

Communications Minister Pat Rabbitte’s announcement that Ireland would fail to meet the €3.1bn repayment to the ECB and Italian prime minister Mario Monti’s comments that he will resign led to more concern over the eurozone’s debt crisis and were the main factors behind the drop.

Bank of Ireland and AIB shed 0.1c each to close at 12.2c and 5.4c respectively. Permanent TSB was unchanged at 2.2c. Irish insurer FBD Holdings was worst hit, closing at €10.35, down 26.5c on the day’s trading.

In construction, CRH managed to buck the trend by gaining 1c to close on €14.43, while Kingspan dropped 7.4c to €8.13, and Grafton Group fell 4.9c to finish at €3.651.

Elsewhere, Elan Corporation was the day’s biggest winner, gaining 31c to finish on €7.99 on a day of red on the markets.