Markets fall across Europe

THE ISEQ index declined 18.27 points to 2,731.83 yesterday in line with other European bourses.

The European Parliament approved a radical new supervisory framework for Europe’s banks and financial services. The vote paves the way for the legislation to become law, after being approved earlier this month by nationalgovernments at the European Council.

In the financial sector, banks were particularly weak in the light of the EU reforms of the banking system. Bank of Ireland dropped 1.5c to 65c. AIB weakened 3.7c to 59.6c, Irish Life & Permanent decreased 11.2c to €1.44.

In the construction sector, CRH slipped 18c to €12.82. Kingspan lost 5.9c to €5.70, while Grafton Group fell 1.9c to €2.90.

In other news, agribusiness group Origin Enterprises has reported pre-tax profits of €58.3m for the year to the end of July, down slightly from €58.8m of last year.The shares closed down 5c at €2.75.


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