Banks drag ISEQ into red

The financials dragged the market into the red today with AIB dominating the ISEQ fallers board.

The bank's shares fell 33c to €19.67 spreading the gloom to Bank of Ireland and IL&P who both fell by 20c to €14.35 and €18.80 respectively. Anglo Irish Bank also suffered a loss but with just a 17c decrease to €14.35 managed to avoid a serious nose-dive.

The wider market suffered as a result of the general performance of the banks as the ISEQ fell by 62.13 points to a 7904.45 since lunchtime.

However bathroom suites distributor, Qualceram Shires, shone a light at the end of the tunnel as recent news of a purchase agreement bumped up the company's shares by 16c to €1.44

Qualceram Shires reached agreement on the purchase of the freehold interest relating to part of the group’s facility at South Quay, Arklow, Co Wicklow.

The company already owns the freehold interest in the remainder of the Arklow site and has now agreed with the board of Arklow Harbour Commissioners the terms of the purchase of the remainder.