Market dips as ECB holds rates

THE ISEQ index fell 15.76 points yesterday to 2,744.97. The European Central Bank held rates at 1% as expected and extended its liquidity safety net for vulnerable eurozone banks.

It also committed to provide unlimited one-week and one-month funding until at least January 18, 2011.

The main financial stocks were predominantly weaker throughout the day. Bank of Ireland slipped 2.4c to 73.6c. AIB fell 2c to 76c, while Irish Life & Permanent added 0.8c to €1.55.

In the construction sector, CRH added a further 3.5c to €12.78. Kingspan gained 1c to €5.70, while Grafton Group shed 0.8c to €2.82.

In other news, Total Produce reported earnings per share for the first half of 2010 of 4.12c, representing an increase of 1.5% year-on-year. Shares in the food group fell 0.5c to 34c.


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