ISEQ loses €1bn as fears grow over war

By Conor Keane MORE than €1 billion was wiped off the value of shares traded on the Irish Stock Exchange for the second day in a row.

Speculation over a second Gulf War and apprehension over the world economy hit shares hard on both sides of the Atlantic.

The ISEQ index of Irish shares hit a four-year low of 3,915, its lowest close since October 9, 1998, when the ISEQ fell to 3,767. The positive trading statement from Bank of Ireland did little to cheer the exchange yesterday as the main index closed below the key 4,000-point level.