ISEQ loses ground in early trading

The ISEQ index of Irish shares this morning surrendered some of the gains achieved in yesterday's rally, falling 73.66 points or 2.29% to 3,143.61 by 11.30am.

Financial stocks were among the losers, with AIB shedding 9c to €1.29, Bank of Ireland down 5c to €1.63 and Irish Life & Permanent 14c off at €2.57.

Glanbia, which yesterday failed in a bid to convert its Irish Dairy and Agri business into a farmer-owned co-operative, was down15c or almost 5% to €2.93 despite an interim statement signalling strong H1 performance.

Other fallers included CRH, down 66c to €19.50; FBD, slipping 35c to €7.35; Paddy Power, losing 30c to €25.10; Kerry Group, down 29c to €22.10; Tullow Oil, down 27c to €12.58; Kingspan, 23c off at €6.77, and Ryanair, shedding 12c to €3.37.