Financials endure heavy hit

THE ISEQ tumbled into negative territory as sharp falls in the financials weighed heavily.

The exchange was 147.5 weaker at 9,236.80.

The financial sector suffered a massive blow dropping 422.92 after British bank Northern Rock issued a profit warning as rising interest rates take their toll on lending income. AIB shed 40c to €20.30, while Bank of Ireland dropped 49c to €14.80. Anglo-Irish slumped 62c to €14.88 with Irish Life & Permanent giving up 33c to €18.34.