ISEQ closes down on profit taking

The ISEQ closed down 23 points to 5300 this evening, on late afternoon declines.

The financials fared quite well though.

Anglo added 1.21%, up 17c to €4.17. At the company's AGM today the bank told its shareholders that Q1 profits are well up on the same period last year and ahead of expectations.

BOI was up 2c to €11.79 and Irish L&P jumped 1.46%, up 20c to €13.90.

AIB was down 3c to €13.62.

Ryanair was down 4c at €6.98 on speculation today that the EU will rule that a number of subsidies it received from the Belgian authorities constituted illegal state aid.

Recruitment group CPL added 6.67%, up 5c to €0.80 after reporting a 35% rise in interim pre-tax profits. Elan dropped 25c to €6.95.

The Construction stocks were mainly down. Abbey fell 20c to €8.00 as investors cashed in, Heiton shed 5c to €4.70 and Grafton was 4c lighter at €5.99. McInerney was a riser though, up 8c to €5.24. CRH was also down on profit taking, dropping 19c to €17.56.

The FTSE 100 closed lower on heavy volume as concerns over rising interest rates, following better than expected GDP figures, hit financials, property and retail stocks.

By the close, the FTSE 100 index was down 16.0 points at 4,460.8.