Markets record another decrease

THE ISEQ index plunged 144.49 points to close at 4,354.62 as investors around the world worried that the after effects of the US sub-prime meltdown and the resulting credit squeeze have yet to come to an end with worries of more bank writedowns to come.

The banks had a torrid day with AIB down 50c to €7.10, Bank of Ireland fell 30c to €4.52, Anglo Irish Bank lost 28c to €4.08, while Irish Life & Permanent ended the day 60c weaker at €4.07.

In construction, CRH fell 51c to €14.89, Kingspan gave up 13c to €5.50, while Grafton declined 16c to €2.67.