Market takes downward slide

THE Irish exchange plunged further into negative territory yesterday while the Far East markets dropped significantly and the US was closed for Martin Luther King Day.

The ISEQ shed 272 points to 6,261.

An incentive package unveiled by US President George W Bush on Friday failed to restore investor confidence as the Irish financials plummeted 272 points. AIB and Bank of Ireland finished 75c and 37c lower at €14.15 and €8.95. Anglo and Irish Life and Permanent decreased 51c and 20c in share price.

Construction giant CRH suffered a large drop to €22.80. Grafton Group was 28c worse off at €4.62. Kingspan nosedived 45c further into negative territory at €9.85.

Pharmaceutical company Elan lost 62c to €15.91.