Recent gains eroded as ISEQ slumps

THE ISEQ index of Irish shares continued its slow slide yesterday under 2,000 points — losing another 17 points to close at 1,964.

In an all too predictable pattern, the gains of the previous day among the banking stocks were quickly eroded; AIB down 4c to 42c and Bank of Ireland down 1c at 19c — pretty much the same amount they had gained on Monday. Irish Life & Permanent, which publishes full-year results for 2008 this morning, was unmoved yesterday at 72c per share.

This week’s market losses in Dublin follow on from the worst performing February on the Irish Stock Exchange for 25 years.