Loss for ISEQ

The ISEQ index lost more ground today, falling 38.75 points to 4,321.23.

Bank of Ireland was the only financial institution to show a gain, shuffling up 4c to €5.30. The rest of the sector showed small declines, with Anglo Irish Bank down 13c to €5.27, Irish Life & Permanent down 11c to €5.14 and Allied Irish Bank falling 7c to €8.15.

The market responded positively to the news that Glanbia has bought US based Optimum Nutrition in a deal worth €213m, as the food firm jumped 25c to €4.60. DCC was the other significant gain of the day, climbing 12c to €16.04.

The news was not as good in the construction sector, where three firms showed significant losses. CRH led the downward trend, shedding 30c to €16.71. Kingspan (down 18c to €7.12) and Grafton (down 14c to €3.81) were not far behind.

Elsewhere, Paddy Power lost 40c to €16.10, and FBD fell 20c to €15, in another poor day for the Irish Stock Exchange.