Iseq loses 166 points at end of turbulent week

The ISEQ index of Irish shares has tumbled down to 2,871.25 after a week of turbulence accross the global markets.

After initial losses well in excess of 200 points, the index managed to claw back to a 166.54-point loss by the end of the day's trading.

The biggest loss of the day was suffered by pharmaceutical giant Elan with a €1.38 (19.77%) downturn to €5.62, while food company, Kerry Group, experienced a 88c slump to €17.50.

The financial sector had a mixed day with Anglo Irish Bank steady on €2.26 and Irish Life and Permanent climbing 19c to €3.54, while the AIB couldn't escape the general gloom after a 33c fall to €4.24. Bank of Ireland also fell, down 21c or 7.75%, to €2.50 and insurance giant FBD Holdings sunk 39c to €11.

On the construction front there was not much cheer as Kingspan dipped by 64c to €5.13. CRH and Greencore had more modest falls, down 14c to €15.08 and 10c to €1.18 respectively.

Other major movers were PAddy Power, down 76c to €11.59, DCC down 50c to €11.90 and Tullow Oil, down 60c to €6.15.

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