ISEQ regains equilibrium, but closes in red

The ISEQ index of Irish shares was down 4.62 points to 6213.65 today.

Bank of Ireland shares reversed an earlier downward trend to rise 1c after the bank announced it had signed an agreement for the sale of its Bristol & West branch network and associated deposit base to Britannia Building Society for about £150m (€218m).

The sale will be effected through a business transfer scheme under the Financial Services and Markets Act 2000 and is subject to approval by the UK Courts and the Financial Services Authority, but is expected to go through this autumn.

In other financial stocks, AIB rose 16c to €16.66, while Anglo Irish Bank fell 13c to €9.91. Irish Life and Permanent stayed level at €13.55.

Fruit distribution business Fyffes saw a 3c rise in its share value to €2.33, after chairman Carl McCann gave an upbeat forecast at the company's AGM in Dublin today.