Dublin lower as Europe falls

The Dublin market was lower in early trade as stock markets across Europe fell as financial leaders warn there will be no economic recovery until any conflict with Iraq has been solved.

The ISEQ had dropped 108.58 points to 3886.67.

Banks were mixed - AIB added 2c to 1242 as the market supports news today of its possible lawsuits against those found to have helped rogue trader John Rusnak at the bank’s US subsidiary AllFirst.

Bank of Ireland fell below the €10 mark, easing back 1c to 999. Irish Life & Permanent was the top performer in the sector, moving up 8c to 1178.

CRH dropped 6c to 1330 on reports a number of its US subsidiaries have been named in asbestos litigation cases in the US. Grafton was flat at 370, as was McInerney at 210. Heiton added 5c to 245.