ENERGY PRICE DROP COULD BE 'BRIEF RESPITE' - Figures out this morning from Bord Gáis show that energy prices are still higher than they were 12 months ago, despite a recent fall in costs that can be put down to oil's slipping back from recent highs.
A drop in oil and electricity prices saw overall prices fall by 5% in June, according to the Bord Gáis energy index, but this is still higher than in June 2010.
Bord Gáis energy trading analyst Michael Kelleher said there had been a 'brief respite' in price rises in June because of the International Energy Agency's intervention in the oil market. The IEA released reserves on to the market, in a move aimed at easing supply concerns and bringing prices down.
Mr Kelleher said Germany's decision to shut its nuclear reactors meant that gas-generated power would have to take up most of the slack. He said this was likely to push up gas prices during the winter months.
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BIG FALL IN ASKING PRICES IN Q2 - Two reports out this morning show that asking prices for residential properties have continued to drop this year, with the fall from peak prices estimated to be between 40% and 47%.
Property website Daft.ie says the average asking price for a house in June was €196,000.
Its economist Ronan Lyons said the fall in prices in the second quarter was much sharper that in the first quarter. He said recent distressed property auctions may have brought 'some realism' to the market.
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CURRENCIES - On the currency markets, the euro is trading at $1.4526 and 90.3p sterling.
