Banks falter as ISEQ slips again

The ISEQ continued its poor run early this week, falling a further 51.29 today to close the evening at 6,046.09.

Anglo Irish Bank shares were one of the hardest hit today, falling 55c to €19.05. The shares tumbled sharply amid concern about the impact of reporting rules from the International Financial Reporting Standards on the bank's earnings.

Allied Irish Bank shares slipped 3c to €16.08 today while Bank of Ireland shares also fell, down 17c to €12.12. Irish Life & Permanent shares slipped back 15c to €13.85.

Elsewhere ISEQ-listed global contract clinical research organisation ICON today reported revenues up 8% to $82.9m (€63.8m) for its third quarter ended February 28, 2005.

ICON - also listed on the NASDAQ - shares are trading at €29.24.

Meanwhile building materials group CRH fell 15c to €20.20 today. Pharmaceutical giant Elan also saw shares fall, down 15c to €5.50.

Bookmaker Paddy Power saw shares fall 20c to €13.50.

Budget airline Ryanair slipped 14c to €5.91.

The most traded shares today were Anglo-Irish Bank, Bank of Ireland, Ryanair, AIB and CRH.