First signs of worldwide response

Yesterday saw the first signs of a co-ordinated worldwide response to ailing markets with ECB and other central banks cutting interest rates in an attempt to stave off a global recession.

Investors in Ireland reacted nervously as the core issue of money market liquidity still remains to the fore. The Dublin market slipped 244.72 to 3,054.39.

The financials were chief among the laggards again with AIB and Anglo-Irish shipping 90c and 63.5c respectively to rest overnight at €4.65 and €2.049. Irish Life and Permanent followed suit losing 80c to €3.00, while Bank of Ireland was down 29c at €3.00.