Investors take their profits out of ISEQ

INVESTORS taking profits on the €10 billion plus increase in the value of Irish stock over the last four weeks knocked almost €1bn of the value of the ISEQ yesterday.

Bloxham Stockbrokers senior analyst, Kevin McConnell said investors were booking some profits from recent gains in advance of an anticipated fall in US interest rates the US Federal Reserve is expected to announce today.

"After four weeks of gains investors are booking some profits in advance of two big events; the Fed decision on interest rates and the US mid-term elections," he said.