US rebound fails to raise ISEQ after its awful month

STOCK markets across Europe were down sharply in early trading yesterday with the ISEQ Index off 2.7% in early trading.

Anglo was off by 8% at one point while Irish Life (ILP) and Permanent was down 10% with Bank of Ireland (BoI) lower by 11% in early trading.

But a strong rebound in New York in which the Dow gained up to 3% saw all European markets recover before the official close. The ISEQ managed only a modest move into the black however, closing up about 0.4% on the day with AIB and Anglo gaining while BoI and ILP were down 10.56% and 4.12% respectively.