ISEQ marginally down

The ISEQ index of Irish shares was marginally down in early trading this morning, dropping 7.52 points to 2,565.46 by 11am.

Chief among the fallers was C&C, which tumbled 23c or 10.41% to €1.98 after it this morning issued a correction to its trading statement of last week.

The drinks group had said that revenue for the four months to the end of June was 3% ahead of the same period last year, but this morning revealed these figures were inaccurate, with total revenue in the period actually falling by 5%.

Joining the cider maker on the fallers' board were Kerry Group, also down 23c to €17.15; CRH, 16c off at €15.65; Paddy Power, shedding 9c to €16.77; Elan Corp, down 8c to €4.87, and Glanbia, falling 5c to €2.20.

In a morning of little upward movement, exploration group Ormonde Mining added 1c or 12.28% to 6c following news of possible investment in its Spanish copper interest.

Meanwhile fortunes were mixed among the financial stocks, with AIB adding 5c to €1.30 and Bank of Ireland up 8c to €1.32, but Irish Life & Permanent down 13c to €2.50.