Shares plummet after foot-and-mouth confirmation

Irish shares have plummeted since the Louth outbreak was confirmed this morning.

Food companies have been hardest hit, with Golden Vale falling 19% and Kerry down 7%.

Other sectors are also feeling the backlash, with AIB down 6.6%, Bank of Ireland down 7% and Jury's Doyle Hotel falling by 9%.

Laurence McGrath, investment analyst with Canada Life, said the value of stocks is down because the economy is about to experience a slowdown.