Magazine rows back on positive Ireland outlook

A leading financial publication which previously told international investors to pump their money into Ireland’s economic “bounce” is now telling them to take their profits and run.

Moneyweek, which describes itself as Britain’s “bestselling financial magazine”, said from an investment point of view Ireland had started to look “interesting” last year.

“Last September, with the Irish stock market down by almost 75% from its 2007 highs, we thought that the bad news could well be ‘in the price’. So we suggested buying shares in Magners and Bulmers Irish cider maker C&C Group. At the time it was a good bit cheaper than other UK brewers, so we reckoned it was looking quite good value.”