ISEQ set to fall below 6,000 milestone

THE ISEQ will fall below the milestone 6,000 mark today if yesterday’s share price falls, led by Anglo Irish Bank, are repeated on the Irish Stock Exchange.

The ISEQ index of Irish shares fell below 6,000 in August of 2001, falling to a low of 3,896 in March of 2003 before working its way back to over 6,000 in November of last year. It hit a 12-month high of 6,835 on February 17 last, but once again it is hovering close to the 6,000 milestone. The ISEQ closed down 48.8 at 6,048.58 yesterday, a 0.8% fall on the day, as a host of stocks lost ground as markets around the world fell.

Shares in Anglo Irish Bank fell over 4% as traders said a lack of guidance over the likely impact of Europe’s new financial reporting standards on profits was making investors nervous.