Market records small decline

The Iseq Index closed yesterday slightly in the red having remained relatively flat throughout the day. The exchange fell 8.56 points to 4,072.38.

The IMF has distanced itself from comments made by former chief of mission to Ireland Professor Ashoka Mody that a significant reduction in austerity for Ireland was needed, saying that his views do not represent the fund’s position.

In the financial sector bank stocks were all weaker. AIB dropped 0.3c to 5.2c, Bank of Ireland lost 0.2c to 16.5c while Permanent TSB Group declined by 0.1c to 2.7c.