AIB shares fall further

AIB’s share value fell by a further 10% at one point yesterday, as fallout from comments by Finance Minister Michael Noonan continued to deter investors.

Mr Noonan was quoted yesterday as saying that “it wouldn’t be a good idea” to buy AIB shares, at present, as they are not structured correctly, warning anyone investing in the bank at this time is likely to lose money. The bank’s share price tumbled by 20% on Monday and saw a further 10% fall in early trading yesterday, before the decline slowed towards the end of the day.

The Department of Finance is currently working on a plan to begin getting AIB back into private ownership.