Recession woes see ISEQ tumble

The ISEQ index weakened a further 102.30 points to 2,727.83 as investors grew concerned that recent global government attempts to bolster the current state of the financial system may fail and as signs of an impending global recession increased.

The main bank stocks endured another torrid day. AIB was down 16c to €3.05, Bank of Ireland decreased 17c to €1.8, Anglo Irish Bank weakened 18c to €2.07 while Irish Life & Permanent bucked the trend rising 26c to €4.10.

In the construction sector CRH dropped 35c to €14.90, Kingspan declined 60c to €5 while Grafton was 35c poorer at €2.30.