ISEQ unaffected by Cyprus malaise

Markets across Europe slumped yesterday following the negative reaction to the announcement of Cyprus’s bailout package.

Concerns over the unprecedented levy on bank accounts in particular appeared to unnerve investors. The ISEQ index bucked this trend surprisingly climbing 30.57 points to 3,936.60.

In the financial sector banking stocks were weaker overall with the exception of AIB which remained unchanged at 7.1c. Bank of Ireland dipped 0.1c to 16.3c€. Permanent TSB Group Holdings fell by 0.4c to 3.8c.