ISEQ sheds 13.47 points
Slow movement on all business fronts was reflected on the ISEQ this morning as the index shed 13.47 points to 8518.36.
Ryanair inched up 1c to €8.70 as observers wait to see the outcome of a case ruling on the low-cost airline's bid to buy an airport in the North.
The closing arguments get under way today in the landmark case between Ryanair and the North's only publicly-owned airport.
The Information Tribunal is hearing an appeal from airport-owners Derry City Council against a ruling it must reveal financial details of its contract with the low-cost carrier.
Keen observers of the latest runway dramas will also note that Aer Lingus has dropped 4c to €2.85 per share.
Elsewhere on the ISEQ Bank of Ireland made waves by announcing it is to halve its branch network in the UK.
A voluntary redundancy programme has been put in place for its 141 staff and a reorganising of its branch network which is focused on business banking.
Bank of Ireland's business banking volumes have grown 40% in the year to the end of March 2006 with experts predicting that trend to continue into November.
Despite this however investors reacted negatively forcing the bank's shares down by 10c to €15.70.
This doom and gloom was carried across the financial front as IL&P and AIB reported losses of 10 and 8c to €19.15 and €21.07 respectively.
Anglo Irish Bank manages to stave off any losses this morning saw the bank's shares level off at €13.85 each.
