Investor confidence remains low

THE Dublin market plunged below the 3000 mark on Friday as investors continued to be spooked by the economic turmoil around the globe.

The US Federal reserve announced that they would step in where needed to supply short-term loans to help companies’ cash-flow. While this is seen as a positive move it does highlight that it is not just banks that are finding it difficult to access short-term funds. The ISEQ index fell 166.54 points to 2871.25.

The financial stocks had another mixed day with AIB and Bank of Ireland shedding 33.2c and 21c to 4.238 and 2.50. Irish Life and Permanent and Anglo-Irish on the other hand did manage to make small gains, tacking on 18.6c and 0.4c to 3.536 and 2.255.