Value still available on Irish markets despite 66% slump in ’08, says Davy

THE Irish equity market’s 66% fall in 2008 made it the worst performer in western Europe for the second year in a row, and one of the worst markets globally.

Despite the poor prognosis, a new analysis says investors should not turn their backs totally on Irish shares in 2009. It argues that some stocks ought to deliver against the odds in the year ahead.

Government spending remains the one bright spot in the economy with the Government “continuing its investment programme despite the deterioration in public finances”, according to Davy Research.