ISEQ down as early gains surrendered

The ISEQ in Dublin closed down 26 points, or 0.51%, to 5103.

The ISEQ in Dublin closed down 26 points, or 0.51%, to 5103.

The market failed to recover from a mid afternoon stumble, taking its cue from European markets which dipped following a weaker than expected report of US economy growth in the Q4.

The banks surrendered earlier gains. AIB closed down 4c to €13.54 and BOI slid 17c to €11.38. Irish L&P was a faller, down 20c to €13.60 and Anglo reversed earlier gains closing down 15c to €13.60.

Ryanair also relinquished earlier gains closing up 2c to €4.87, after hitting a days high of €5.05.

Business services firm DCC was down 15c to €12.10. The company announced today, among other appointments, that Morgan Crowe is to retire from the board as MD of the company's healthcare division in July.

Independent News & Media moved up 7c to €2.13 as the markets noted yesterday's sale of its 50% stake in troubled cable operator Chorus. Gresham closed up 3c to €1.23 .Today is the Irish takeover panel deadline where the consortium must decide on a takeover bid.

CRH was a gainer today, adding 23c to €17.13 in late busy trade. Profit takers moved in on Food group IAWS which dropped 8c to €9.30 as profit takers cashed in on yesterday's gains.

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