Market dips on bank fears

THE ISEQ Index suffered in unison with most other European bourses yesterday as financial stocks took a pounding on the back of a credit crisis in Britain fueled by Northern Rock.

The exchange fell 282.96 to 7,821.32. Banks were rocked yesterday by the news from Britain that Northern Rock had issued a profit warning. AIB fell 40c to €17.40.

Bank of Ireland lost 29c to €12. Anglo Irish shed 90c to €12.60. Irish Life & Permanent fell 83c to €15.53.