Further falls in Irish bank stocks

FOLLOWING on from their poor performance on bank holiday Monday, Irish banking stocks endured further torment yesterday — ultimately leading to nearly €1 billion being wiped off the combined value of the ISEQ’s financial stocks since the close of business last Friday.

AIB followed its 4.81% fall on Monday with a further 11.58% drop yesterday, which wiped another 28c off its share price — bringing it down to €2.10. Bank of Ireland, down 10c, or nearly 4% on Monday, slipped another 10.2% (25c) yesterday to close at €2.20.

Irish Life & Permanent (IL&P) suffered the biggest monetary slip of the banking stocks, yesterday, falling by 32c (5.62%) to €5.32.