Investor doubts sent market down

THE Irish market plunged again yesterday as investors feared that the government was likely to make a preference share investment in top Irish banks.

This step is in keeping with other European governments, however, would still serve to dilute existing investors’ holdings. The ambiguity surrounding this possibility caused the ISEQto fall 192.77 to 2,830.13.

Bank stocks had a predictably volatile day. AIB and Anglo-Irish were up 1c and 13.3c to €3.21 and €2.25. Bank of Ireland lost ground, sliding 33c to €2.02, while Irish Life and Permanent was also a laggard, losing 15.6c to €3.84.