Handful of Irish shares offer shelter from Europe-wide storm

Stock markets investors should avoid Europe-wide shares for the time being, Merion Capital has warned, though a very small handful of Irish companies, including Fyffes and Irish Residential Properties REIT, may offer some shelter from further storms ahead.

Posting a 13% slump since June 23, the Iseq stocks index has been among one of the worst performing in the world because the collapse in the value of sterling exposes many stock market companies here

Darren McKinley at Merrion said the risks of downgrades meant so-called cyclical stocks should be avoided, as Europe readjusts to the long divorce process facing the UK and the EU.