ISEQ closes down on sluggish day's trading

The ISEQ index of Irish shares closed down 13.15 points to 6126.96 today.

Shares in gas and oil exploration company Tullow fell 11c to €2.68. The company revealed operating profit before exploration activities up 88% to £83.2m (€121.1m).

In the financials, Bank of Ireland closed up 7c at €12.55, while AIB fell 1c to €16.41. Anglo Irish Bank closed level at €19.70 while Irish Life and Permanent saw a fall of 15c to €13.85.

Ryanair stock fell 3c to €6.16. The no-frills airline said today that it would seek legal action this week if Italy’s civil aviation authority denies it permission to operate one of three new domestic routes due to start this month.

At a news conference in Rome, Ryanair Chief Executive Michael O’Leary said the airline will launch legal action by the end of the week if civil aviation agency ENAC denies take-off and landing slots for a new domestic route that would connect Rome to Alghero on the Mediterranean island of Sardinia.

Financial services company FBD Holdings saw a strong rise of 35c to close at €23.