ISEQ in the black

The ISEQ index has begun the day on the back foot as it continues yesterday's downward spiral losing 45.97 points to begin the morning at 9171.74.

All the major financial institutions lost out. AIB fell 10c to €22.40, Anglo Irish fell 12c to €15.40. The biggest loser, IL&P, fell by 17c to €20.73.

Bank of Ireland also fell by 2c to €17.14.

There was no change for Aer Lingus despite news that it is to commence direct scheduled flights to Lithuania for the first time with three flights a week from Dublin to Vilnius service commencing May 2007.

The former state-owned airline has levelled off at €2.75 per share.

Elsewhere the Federal Court of Australia today issued orders approving the scheme of arrangement relating to the proposed acquisition of Hardman by Tullow Oil.

However, there has been little positive activity on the trading floor in relation to the ISEQ-listed company as Tullow shares fell by 7c to €6.01.