Markets fall after ‘template’ quote

Markets across Europe fell yesterday.

Comments from Jeroen Dijsselbloem, the Dutch finance minister, suggested that the Cyprus bailout deal including a levy on large bank deposits could be used as the bailout template. That caused Italian and Spanish bank stocks to fall sharply. However, the Iseq managed to stay in positive figures, closing up 6.57 points to 3,932.11.

The financial sector was positive. AIB added 0.2c to finish on 7.3c and Permanent TSB Group gained 0.3c to 4c. Bank of Ireland traded flat on 16.2c. Meanwhile, insurer FBD Holdings fell 15 cent to €15.35.

The construction sector had a mixed day, Kingspan fell 0.22c to €9.62 while CRH and Grafton Group gained, the former adding 7 cent to €17.29 while the latter gained 3c to finish on €5.05.