IL&P feels chill of Icelandic bank woes

A PICK up in trading on Wall Street by mid-afternoon yesterday helped rally markets across Europe in what was a mixed day of trading.

However, that fillip was insufficient to lift the ISEQ into positive territory and it closed down almost 1% after recording a substantial loss of 6.45% on Wednesday.

One of the key features was the sharp fall in the shares of Irish Life & Permanent (IL&P) which dipped more than 12.6%, to €3.10.