Eurozone markets go into reverse

The ISEQ continued its downward spiral yesterday as prices fell a further 99.82 points or 2.35%.

This was a common story across the eurozone as all markets were down.

Investor fears over China’s economic outlook and its banking sector coupled, with Friday’s comments from US Fed chairman Ben Bernanke on scaling back its stimulus package has led to the market downturn. The ISEQ closed on 3,784.19 with only two companies in positive territory.

The financial stocks followed the market with all showing losses.

The construction sector also felt the pinch, with CRH giving back Friday’s gains to close on €14.81 down 34c while Grafton Group shipped a further 13c to €5.17. Kingspan Group shed another 23c to close at €9.50.