Market records small loss

Shares on the Irish market drifted slightly overall in contrast to most other European bourses and despite sharp gains in the likes of Grafton Group.

The Iseq Index closed the session 10.1 points weaker at 3,504.23.

Banks were higher for the most part with the exception of Bank of Ireland which held steady at 13.5c after its recent positive run. AIB advanced 0.1c to 5.3c while Permanent TSB Group Holdings added 0.3c to 3c. Elsewhere in the financial sector, insurer FBD Holdings gained 10c to €10.85.

In construction, Grafton Group was the leading performer jumping 26.6c or 6.79% to €4.181 on the back of a positive trading statement for the year ended Dec 2012. Sales increased 5.8% to €2.25bn and operating profit is expected to be not less than €70m. Meanwhile, CRH added 6c to €15.06 with Kingspan a riser of 15c to €8.95.