ISEQ down as profit makers sell off

The ISEQ in Dublin closed down 0.57%, 27 points, to 4,775 this morning as investors sold off on gains made yesterday.

The banks were mainly down with BOI dipping €0.10 to €10.50 and AIB falling €0.05 to €10.50.

Anglo was unchanged at €12.30 and Irish L&P was down €0.05 to €12.15 after yesterday's jump ahead of today's trading statement.

First Active was down €0.01 to €6.17, three cents below Royal Bank of Scotland's bid for the company.

Companies that fell today following generous gains yesterday included Elan down €0.16 to €4.74 and CRH which fell €0.15 to €15.90.

Ryanair fell €0.05 to €6.35. The airline said that, if it wins its appeal over funding it received from officials in Strasbourg, it will resume flights to the region in eastern France.

Companies showing a loss yesterday which edged up today included DCC, up €0.05 to €10.65 and Iona Technologies which added €0.55 to €4.90.

Waterford Wedgwood was this morning's busiest stock, down €0.01 to €0.23.

In London the FTSE100 was down 0.14% at 11.30am today as profit takers sold off their shares.

Shares in Pearson, the owner of the FT, fell 3% to £6.11 after it said it would meet full year estimates.

Britain's fourth largest bank HBOS shares shed nearly 2%, down £0.14, to 7.04 after its trading statement said it was on track to meet full year forecasts.