ISEQ plunges almost 4%

ISEQ plunges almost 4%

The ISEQ index of Irish shares fell sharply in early trading today as investors digested yesterday's revised estimations from NAMA, and amid continued uncertainty on global markets.

The overall index had tumbled 112.77 points or 3.87% to 2,800.52 by 11.45am.

Among the majors losers was CRH, which saw its share price drop by almost 10% despite an interim trading statement which show sales decline slowing and predicted a strong second half to the year.

Shares in the building materials group shed €1.60, or 9.35% to €15.52.

Kingspan was also a heavy faller, dropping 32c ro €5.10% to €5.95, while Ryanair, yesterday the subject of a European court ruling which adjudged the blocking of its Aer Lingus takeover bid to be valid, slipped 9c or 2.40% to €3.66.

The former flag carrier was also in the red, slipping 3c or 3.73% to €0.80.

Also down were Smurfit Kappa (-14c to €6.81) and Elan Corp (-6c to €3.80).

Financial stocks were faring poorly, with AIB down 5c to €0.89, Bank of Ireland slipping 2c to €0.64 and Irish Life & Permanent 9c off at €1.50.

Among few risers of note, Aryzta added 52c or 1.66% to €31.82.

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