ISEQ in the red

The ISEQ index of Irish shares showed a dip of 11.05 points this morning, down to 7321.51.

The financial sector saw static-to-downward moves across the board. Irish Life & Permanent is awaiting the effects of a trading statement released in the last half hour. At the moment, the group's share price is down 15c on opening to €18.10.

Anglo Irish Bank fared best in the sector, maintaining its opening price of €11.10. Bank of Ireland lost 4c to €13.71 while AIB fell 9c to €18.16.

Tullow Oil recorded the highest increase of the morning, up 17c on its opening price to €5.03 after Hardman Resources, the operator of the Waraga-1 well test in Uganda in which Tullow is a 50% partner, announced the well flowed oil to surface. A stabilised rate has been established sufficient to derive composition, flow characteristics and key reservoir parameters.