Markets update: Banks drag ISEQ lower

The ISEQ index is down 25 points down today with a weak opening of financial stocks.

The ISEQ index is down 25 points down today with a weak opening of financial stocks.

AIB fell 3 cents to euro 12.15, Anglo Irish shed 15 cents to euro 3.75 amd Bank of Ireland slipped 12 cents to euro 10.09.

Shares in Ryanair fell 15 cents to euro 12.20 after it announced it will be placing another one million shares on the market at euro 11.60. Last week the low-cost airline raised euro 116 million in a share issue to fund the purchase of new aircraft.

Eircom fell 1 cent to euro 2.55 while Iona Technologies fell euro 1.0 to euro 55.0 against the upward trend in other European markets.

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London shares eased back slightly in midday trades, as gains in technology issues were helped by Schlumberger's confirmation of its bid for Sema and with a positive mixed opening seen on the Nasdaq this afternoon, dealers said.