Recession fears drive down market

AFTER two consecutive days of gains the Irish market reverted to recent trends, dropping 188.09 points on renewed fears of a global recession. Despite recent concerted political intervention worldwide, bourses around the globe shed ground yesterday.

The ISEQ index finished at 2,726.65.

The financial stocks were again chief among the market laggards. AIB and Bank of Ireland slipped 33c and 27c to €3.39 and €1.65. Irish Life and Permanent shed 30.2c to €3.54, while Anglo-Irish fell 27c to €1.80.