ISEQ slumps in morning trading

The ISEQ index of Irish shares faltered this morning dropping 6.85 points to 5631.73 by 11.15am.

All the financial heavyweights suffered a loss with Irish Life and Permanent leading the way, down 10c to €9.40. Anglo Irish Bank fell 9c to €7.07 with Bank of Ireland following suit down 8c to €6.67. AIB was also in negative territory down just 3c to €11.62.

There was mixed news within the food sector, IAWS plummeted 30c to €16.20, however Kerry Group jumped 17c to €19.49 and Glanbia also bucked the negative trend up a modest 5c to €4.95.

Elsewhere, it was a bad morning for Paddy Power bookmakers dropping 35c off its share price to €22.45.

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