Market loses some of recent gains

THE ISEQ index plunged 160.67 points yesterday to finish at 4,398.18.

The main trigger was troubled US investment bank Lehman Brothers that reported a higher than expected third-quarter net loss of $3.9bn. The bank has had to write off $17bn in risky investments, and announced a further $7.8bn of write-offs for the third quarter.

In the financial sector, AIB decreased 65 to €8.10 Bank of Ireland fell 38c to €5.52, Irish Life & Permanent gave up 36c to €6.80, while Anglo Irish Bank weakened 34c to close at €5.36.