ISEQ falls in morning trade

The ISEQ fell 16.37 points to 6199.63 in morning trade today, despite healthy profits announcements from building company Grafton and insurer FBD Holdings.

Pre-tax profits at building company Grafton were 29% higher at €131.9m in 2004. Turnover in Ireland increased by 25% to €1.9bn while there was a 28% rise in UK turnover to over €1.4bn. Despite the profits announcement, share price fell 15c to €9.75.