Iseq falls as world markets volatile

World markets were mixed again yesterday with the Iseq losing much of the gains made on Friday as profit-taking took hold.

The Irish exchange ended the session 27.88 points weaker at 4,238.60.

In the financial sector bank stocks advanced overall with the exception of Permanent TSB Group, which was unchanged at 3.1c. AIB added 0.5c to 7.2c while Bank of Ireland gained 0.4c to 2.07c. Meanwhile, insurer FBD Holdings was flat at €16.65.

In construction Shriram EPC Ltd announced that My Home Industries (a 50:50 joint venture between CRH and My Home Group) has acquired a stake in Sree Jayajothi Cements Ltd for $230m. The deal is seen a good strategic move for CRH in increasing its presence in southern India. Shares held firm at €17.06.

Meanwhile, Kingspan pushed on 8.5c to €10.74 while Grafton Group declined by 10.2c to €6.04.