Financials dip before Easter break

The ISEQ index of Irish shares was down 30.95 points to €5370.32 ahead of the traditional Easter break.

Irish Life and Permanent was down 18c to €13.80 on the Dublin market today.

In the company's annual report it emerged that chief executive David Went was paid an increase of €124,000 last year bringing his salary to €946,000 in 2003.

This was broken down between a salary of €630,000 and a bonus of €278,000.

Kenmare Resources were up 1c to 30c after it announced a $220m (€180m) joint venture deal to develop the Moma titanium mine in Mozambique.

The project will be funded by a debt package with a lender group comprising the European Investment Bank, The African Development Bank, Netherland's FMO and South Africa's ABSA which are lending under an Export Credit Insurance Agency of South Africa export guarantee.

Kerry Group were up 4c to €15.48 while Icon were up 50c to €34.75.

Financials saw AIB down 31c to €12.57, Bank of Ireland was down 11c to €10.67 while Anglo Irish was up 34c to €13.34.

The annual inflation rate fell to a five year low of 1.3%, according to the Central Statistics Office.