Market slips over credit fears

The Irish market plunged 147.06 to 7,644.80 on yesterday, after Wall St plummeted on Friday evening amid renewed credit fears and record oil prices.

The financial sector had a poor performance as AIB and Bank of Ireland dropped 33c and 29c to €16.57 and €11.78. Anglo Irish continued the downward trend losing 31.7c to €11.757. Irish Life and Permanent also shed 11c to €14.86.

Construction stocks lost considerable ground as US building material stocks dropped on Friday. CRH slipped 56c to €25.50. Grafton Group dipped 28c to €8.01 and Kingspan was 21c down at €15.85.