Eurozone gloom impacts on market

European markets were in sharp decline as new surveys showed the downturn in the eurozone region’s businesses worsened unexpectedly this month, putting paid to hopes of an early emergence from recession.

The Iseq Index fell by 56.8 points to 3623.3 as a result.

In the financial sector, banking stocks were largely in the red. Bank of Ireland dropped 0.4c to 13.4c, while Permanent TSB Group Holdings shed 0.3c to 3.2c. AIB was unchanged at 6.5c.