Anglo shares plummet as BoI courts investors

THE outlook for Anglo Irish Bank’s surviving as a standalone entity deteriorated further yesterday as its shares plunged about 28% for the second day in a row.

The fall sent the shares tumbling to 48 cents yesterday following projections the bank will return losses for the next two years.

Concerns have also emerged that the core ratio of the bank is not as strong as indicated by the group when it published results on Wednesday, and that it will need much higher levels of external funding than had been estimated.