Market ends week in decline

THE Irish market dropped 35.51 points yesterday to end the week at 2,855.52.

In the US, data showed consumer sentiment weakened in early July to its lowest point in 11 months on revived fears about the economy. Allied to that, disappointing revenue reports from banking giants Citigroup and Bank of America as well as concerns over the profit growth at Google sent markets weaker in afternoon trading.

In the financial sector, AIB added 3c to 88c. Bank of Ireland fell 2c to 69c. Irish Life & Permanent moved up 1c to €1.58, while insurance company FBD Holdings was 11c lower at €6.14.

In the construction sector, CRH declined 56c to €15.49. Kingspan decreased 18c to €5.74, while Grafton Group was also weaker, closing down 6.5c at €2.82.


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