Positive building figures fail to boost ISEQ

Despite positive news on the construction front the ISEQ fell by 23.16 points to 8275.24 this evening.

Housebuilder Abbey has said trading in the early months the year was "off to a solid start" as its shares climbed 5c today to €9.65.

Speaking at the company's AGM, chairman Charles Gallagher said: "New homes are continuing to sell well in both England and Ireland. In England strong investor demand is underpinning market confidence.

"In Ireland the market continues to be robust and our projects are doing well throughout Leinster."

New Abbey sites have recently commenced in Balbriggan, Portlaoise and Kilcoole, Co Wicklow. These developments are mainly three- and four-bedroom homes.

Elsewhere speculation as to the future of Aer Lingus has failed to frighten off investors as the airline's shares continued to grow this afternoon climbing a further 8c to €2.98.

The source of much of that speculation, Ryanair boss Michael O'Leary has seen his own shares increase by 13c to €8.80.

On the financial front the banks lagged behind with Anglo Irish Bank and Bank of Ireland dropping 11c and 16c to €13.25 and €15.20 respectively.

IL&P slowed the decline slightly off loading just 6c to €19.69 with AIB keeping its head above water with a 6c increase to €20.61.