Banking fears rock market

THE ISEQ remains in negative territory as credit crises fears continue.

The Irish exchange plummeted 316 to 7,504 at the closing bell.

Northern Rock continued a downward slump despite efforts from the Bank of England to encourage a takeover by offering the loan facility arranged by Northern Rock on Friday to remain available to any acquiring company. Negative newsflow and credit crunch fears caused the Irish financials to finish 778 lower. AIB dropped €1.20 to €16.20. Bank of Ireland declined 69c to €11.35. Irish Life and Permanent and Anglo weakened 63c and 98c to €14.90 and €11.62.