Iseq ends on a low note over financials' losses

Dublin report: Banks led the way as the Dublin market ended the week on a low note. The financials were 1.2 per cent weaker as the Iseq slipped by just over half a percentage point, with prices softening appreciably in the afternoon.

Dealers said that Bank of Ireland and AIB in particular came under a bit of pressure as the banking sector again struggled across Europe.

AIB staged a late rally to end the session just eight cent weaker on €17.50, having traded as low as €17.30 in mid-afternoon. Bank of Ireland slumped 30 cent, or 2.3 per cent, to finish the week on €12.75, its session low.

Anglo Irish was another to surrender some ground, giving up 1 per cent, or 11 cent, to €10.94, while Irish Life & Permanent gave up some of the gains made earlier in the week as it closed on €14.95, off 20 cent. Jurys Doyle was another stock to take a step back yesterday, retreating from the €19 highs scaled on Thursday, when developer Sean Dunne continued to stakebuild in the takeover target.

In the absence of any significant business yesterday, the shares traded at €18.39 by the close, down 51 cent, or 2.7 per cent, on the day. Independent News & Media continued to soften, giving up another two cent to €2.39. The shares have slipped since interim results earlier in the week, although they were in line with forecasts.

Eircom was 14 cent weaker on €1.86 as the stock went ex rights.

Among the day's winners were C&C, which added 29 cent, or over 6 per cent, to €5 following positive data on UK cider operations. Ryanair was another to buck the trend after a couple of days in the red. The airline was 16 cent stronger on €6.88 as company broker Davy and upgraded its price forecast for the share to €9.25 from €8 previously.

Food stocks had a poor day, with Greencore, the only one to see significant trading, off 15 cent on €3.55, Glanbia down 10 cent on €2.45, IAWS 26 cent weaker on €11.38 and Kerry Group shedding 30 cent to €18.70. Dublin ReportSettlement Day: September 21st