Share prices in City hit six-year lows

SHARE prices in London hit six-year lows yesterday, while shares in Paris and Amsterdam fell to five-year lows, as more than 1 billion was wiped off the value of shares on the Irish Stock Exchange.

Stock markets continued their downward spiral following losses of billions of euro last week.

The sharp falls provided buying opportunities for Irish companies like Independent News and Media, IWP and Galen to buy back shares in their own companies when the prices are weak.