Iseq falls on US consumer price drop

The Iseq ended a poor week down slightly further yesterday, a larger than expected drop in US consumer prices was the key catalyst behind the fall.

The index closed the week on 3,328.78 down 13.70 points.

It was a mixed bag for the Irish financials with Bank of Ireland shedding another 0.2c to close on 11.7c. Permanent TSB were flat on 2.3c and AIB finished ahead 0.2c closing the week on 5.3c. Meanwhile, Irish insured FBD Holdings closed down 20c to finish on €10.

In the construction sector, shares traded flat or slightly down. Grafton Group were flat on €3.64. CRH were down 4.5c to €14.415, while Kingspan slipped 10.2c to close on €8.129.

Elsewhere, shares in C&C jumped 11c as pier US brewer Boston Beer increased growth expectations by 3% to 11%-13% for 2012, this is seen as good news for the firm after their recent US acquisition C&C closed the week on €4.315.