DUBLIN REPORT ISEQ: 2,707.80 (-16.06) Settlement Date: July 3rd

DUBLIN’S ISEQ shed 16 points to close at 2,707.08. Although the ISEQ had remained fairly steady throughout the morning, figures in the afternoon from the US which showed that consumer confidence had fallen in June following an eight-month high the previous month, triggered falls in markets on both side of the Atlantic, including the ISEQ which dropped steeply mid-afternoon.

Trading volumes throughout the day were very light, with some traders suggesting that activity was slackening in anticipation of the US markets’ closure on Friday for Independence Day.

Banking stocks had a mixed day. AIBgained 1.475 per cent to close at €1.72, while Bank of Irelandshed almost 3 cent to end at €1.685. Irish Life & Permanentwas the big winner among the banking stocks, continuing its run of recent days, with a gain of almost 26 cent to close at €3.63.

Smurfit Kappaalso finished in positive territory yesterday, closing up 2.12 per cent to end at €3.85, although volumes were low.

Kerry Groupwas one of the most traded stocks yesterday; it ended just under 1 per cent higher at €16.26. ISEQ heavyweight CRH was given a small boost mid-afternoon on the back of a strengthening dollar. The stock ended the day lower, however, closing at €16.30, a fall of 3 cent.

The trend of airline stocks responding to the price of oil which has been a feature of the markets over the last few weeks continued yesterday as the ISEQ's two main airline stocks, Ryanairand Aer Lingusboth finished lower, as oil prices jumped to over $72. Aer Lingus ended the day at 50 cent, a fall of one cent, while Ryanair lost 10 cent to end at €3.26, a fall of almost 3 per cent.

Aminex, the listed Irish oil and gas explorer, shed 3 cent to close at 7 cent, after it unveiled plans for a share placing to raise almost £9 million (€10.3 million).