Financials stocks behind on the ISEQ

Dublin's ISEQ was down 23 points, or 0.44%, to 5,273 at 10.30am, due to falls in the financial stocks.

AIB shed 10c to €13.43. Irish Life & Permanent, one of yesterday's star performers, dropped 8c to €13.75 in early trade. Anglo was down 1c to €13.82 ahead of its trading update at its agm on Friday.

BOI fell 3c to €11.61. The bank said it spent a further €1.16m buying back 100,000 of its shares yesterday, so far the bank has spent more than €400m over the past year on its share buyback scheme.

Building stock McInerney recovered from yesterday's drop rising 10 to €5.30 and Grafton was flat at €6.05 after rising 4% yesterday on the back of possible future additional UK acquisitions. CRH was up 9c to €17.30 on healthy trading.

Iona was 20c higher, or 3.5%, to €5.80 ahead of its Q4 results today. Glanbia was back on track adding 7c to €2.25.

In London, the FTSE was marginally higher, helped by a 2% rise in BP shares. Shares in Cadbury Schweppes were up 3.5% after the Ken Hanna was announced as the new CFO.

On the currency markets the euro has strengthened against the dollar and is worth $1.262 and £0.689.