Market slips on turbulent trading

The Irish market lost significant ground yesterday, mirroring a turbulent day on world markets.

Worries over whetherinvestors would accept Greece’s pending private sector debt swap and concerns over global investment, highlighted by weaker than expected Chinese growth figures, dragged world markets lower. The ISEQ index fell 93.67 points to 3,132.57.

The financials were all weaker on the day with AIB and Bank of Ireland losing over 5% of their value. The former fell 0.6c or 5% to 11.3c while the latter lost 0.8c or 6% to close at 12.4c. Irish Life and Permanent shipped over 10% to end at 4.3c.

Construction stocks were not immune to general market sentiment as CRH gave up 82.5c or 5% to €15.30. Grafton Group and Kingspan followed suit losing 3.9c and 22c to close at €3.28 and €7.93.


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