Market drops after Lehman troubles

THE ISEQ index plunged 139.33 points yesterday to close at 4,205.67.

The weekend turmoil in the US was the main catalyst for the slide as Lehman Brothers has filed for bankruptcy protection and Merrill Lynch was bought by Bank of America in an all-stock deal worth $50bn.

In the financial sector, AIB fell 47c to €7.51, Bank of Ireland weakened 23c to €4.78, Irish Life & Permanent lost 90c to €5.85, while Anglo Irish Bank decreased 39c to close at 4.65.