Construction stocks pull Iseq down

The Iseq Index fell slightly lower yet again with the likes of construction heavyweights weighing heavily on the market.

The benchmark index of Irish shares closed down 4.4 points to 3167.5 on the day.

Irish financial stocks had mixed fortunes. In the banking sector AIB gained 0.3c to 5.3c, whereas Bank of Ireland lost 0.2c to 9.3c. Permanent TSB also gained territory, climbing 0.6c to 2.7c.

In construction, CRH fell a further 7.5c to €14.235. A number of leading analysts downgraded their recommendations on the stock as company forecasts suggested a second-half decline of more than 5% in European sales. Meanwhile Grafton Group climbed 2.6c to €3.076 with Kingspan gaining 10c to €6.90.

Elsewhere, low-cost carrier Ryanair dipped back 0.9c to €4.108 and media company Independent News and Media was ahead by 0.1c to 19.1c.


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