Investor concern makes weak trading

INVESTOR apprehension was evidenced by weak trading volumes in morning trading yesterday, this ahead of the interest rate announcements from the Bank of England and the ECB.

The former slashed its base rate by an unprecedented 1.5% to 3%, while the ECB remained more hawkish with only a 0.5% drop. The Dublin market shed 258.32 points to close at 2803.59.

Financial stocks were hit hard with AIB and Bank of Ireland falling 79c and 42c to €3.51 and €1.92. Anglo-Irish slipped back 12c to €2.33. Irish Life & Permanent managed to confound the trend adding 1c to €2.36.