Volatile week ahead on stock markets

The confirmation by Bank of Ireland that it is in talks with the UK's Abbey National about a possible take-over is dominating the markets.

In early trade this morning, Bank of Ireland shares were down about 50 cent or 5% following news of the possible deal, which would be worth about €22 bn.

Meanwhile, in stock markets, it looks like another volatile week is in store.

The Japanese market was weak overnight on the back of a 2% plus slide on Wall Street last Friday.

European markets have followed this morning and are down in early trade.

In the week ahead, more important Economic data is due out from the US and there are some three quarter earnings reports but the season kicks off in earnest next week.

In foreign exchanges, one euro will buy 61.5 pence Sterling or 96.4 US cent.