Market closes in negative territory

European bourses were broadly in negative territory yesterday as mining stocks and oil producers weighed on the market.

Investors in the region are believed to have engaged in profit-taking ahead of a week of intensive discussions around the region’s debt problems. The Iseq index lost 23.71 points to close at 3,177.53.

AIB and Permanent TSB Group both made gains, adding 0.2c and 0.3c respectively to 5.3c and 2.7c. Bank of Ireland was unchanged at 9.1c

CRH lost ground, shedding 26.5c to €14.415.

Grafton Group was ahead, tacking on 9.2c to €3.157. Kingspan reported results to the end of June. Earnings per share came in at 23c, 5% ahead of Goodbody forecasts and 22% higher year on year.

Overall the results were viewed as solid and the share price reflected this by gaining 8c to finish at €7.33.


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