The Market Comment

The ISEQ index dipped by 15.76 points to end the session at 2,744.97. The European Central Bank held rates at 1.0 per cent as expected and extended its liquidity safety net for vulnerable euro zone banks. It also commited to provide unlimited one-week and one-month funding until at least January 18, 2011.

The main financial stocks were predominantly weaker throughout the day. Bank of Ireland slipped 2.4c to 73.6c. Allied Irish Banks fell 2c to 76c, while Irish Life & Permanent added 0.8c to 1.557.

In the construction sector, CRH added a further 3.5c to 12.78. Kingspan gained 1c to 5.70, while Grafton Group shed 0.8c to 2.822.

In other news, Total Produce reported earnings per share for the first half of 2010 of 4.12c, representing an increase of 1.5pc year-on-year. Shares in the food group dipped 0.5c to 34c. Elsewhere, Glanbia advanced 1.7.c to 3.442, while Kerry Group continued it’s good run with an increase of 30c to 26.10.