Market Update: Financials fall after Deutsche results

Leading financials fell on the Dublin stock market today following a European-wide trend on the back of Deutsche Bank's poor …

Leading financials fell on the Dublin stock market today following a European-wide trend on the back of Deutsche Bank's poor fourth quarter results.

Allied Irish and Bank of Ireland were the worst hit. AIB closed the day 23 cents down at euro 13.02 while Bank of Ireland closed 29 cents down at euro 10.51.

The exception to the rule was Irish Life and Permanent which ended the day 13 cents at euro 12.58.

The overall index of Irish shares closed the day at 5,825.96, 65.30 points down on the day.

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Profit taking may have prompted Elan to fall euro 1.10 to 54.00. The company's share price had risen earlier in the week on the back of positive financial results.

Ryanair were today's high flyers closing the day 49 cents up at euro 11.25 following on the back of positive UK airline results and strong internet sales figures.

Iona tech fell sharply today closing out euro 5.00 down at 57.50. CRH also fell some 18 cents to euro 20.12.

Kingspan also closed the day down at euro 4.32, 28 cents down on yesterday.