Wednesday 22 November 2017

Bank of Ireland shares down as Boucher quizzed

Bank of Ireland Group chief executive Richie Boucher was in front of the Oireachtas Finance Committee yesterday as the bank's shares dropped by 5pc
Bank of Ireland Group chief executive Richie Boucher was in front of the Oireachtas Finance Committee yesterday as the bank's shares dropped by 5pc
Sarah McCabe

Sarah McCabe

Irish stocks fell marginally yesterday, with the ISEQ Overall Index down 12.42 points or 0.25pc to 5015.12 by the close of business. Twenty of its listed companies fell while 14 were up and 12 stayed static.

Prime Active Capital saw the biggest percentage losses, shedding 12pc to 11c. Bank of Ireland was down 5pc and is now firmly below the 30c mark, at 28c. Chief executive Richie Boucher was in front of the Oireachtas Finance Committee yesterday, where he told politicians the lender had beaten all of its Central Bank targets for mortgage restructurings at the end of 2013. Aer Lingus also lost ground, slipping 3pc to €1.65.

On the other end of the scale was penny exploration stock Aminex, up 10pc to 1c. Permanent TSB added 5pc to 10c while Ryanair rose 2pc to 8c. PTSB boss Jeremy Masding said it had offered long-term treatment arrangements to 61pc of its customers in mortgage arrears over 90 days, when he appeared before the Finance Committee on Wednesday.

In Europe, stocks declined as a report showed Chinese imports unexpectedly slumped last month, outweighing gains by personal and household goods companies after LVMH Moet Hennessy Louis Vuitton posted results. Chinese imports slid 11pc in March from a year earlier, the country's customs administration authority said. The economist estimate had called for a gain of 3.9pc, according to Bloomberg.

National benchmark indexes declined in 14 of the 18 western-European markets. The UK's FTSE 100 added 0.1pc and Germany's DAX fell 0.5pc. France's CAC 40 lost 0.7pc.

The composite Stoxx Europe 600 Index fell 0.5pc to 333.41 at the close of trading. The benchmark earlier rose as much as 0.6pc after the minutes of the Federal Reserve's last meeting eased concern about when interest rates will increase.

European equities have fallen 1.7p from a six-year high on April 4 as investors sold the shares with the highest valuations.

Irish Independent

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