Oil price worries stifle ISEQ prices

Investors were running for cover today after continued oil price anxiety pushed the Dublin and New York markets firmly on to the back foot.

As well as the record energy costs, Wall Street was hit by data showing a sharp fall in consumer spending – leaving the Dow Jones Industrial and the tech-laden Nasdaq to nurse significant falls overnight.

The downbeat mood spilled over into Dublin, where the ISEQ was 10.35 points lower at 5365.59 in the first hour of trading.

Financials were the biggest fallers, AIB going down 15c to €12.75 and Bank of Ireland down 10c to €10.80. Anglo Irish Bank and Irish Life and Permanent were both in the positive however rising 5c and 9c to €133.10 and €12.54 respectively.

Biggest risers so far are Elan who increased their price by 20c to stand at €16.90, while DCC went up 15c to €14.50. The sales and distribution company snapped up control of frozen foods specialist Allied Foods for €14.5m yesterday.

Kerry Group also went up by 10c to €17.50.