ISEQ slips as ETF dominates early trading

The ISEQ has slipped 5.87 to 5,985,54 in early trading today on a day when trading in the new ISEQ 20 ETF got underway.

The ETF is the first exchange traded fund to be listed on the Irish Stock Exchange. It will allow both retail and institutional investors to invest in a portfolio of 20 of the most liquid and largest stocks on the Irish stock market at a low cost.

Shares in the ETF are trading at €12.18 today.

Meanwhile most financial shares have fallen slightly this morning. Shares in AIB have dropped 5c to €16.17.

Bank of Ireland shares are unchanged at €12.20.

Anglo Irish Bank shares have fallen 5c to €19.35 while Irish Life & Permanent shares have also dropped 5c, falling to €13.45.

Meanwhile hotel group JurysDoyle is one of the big early fallers today, losing 17c to €12.20.

Another loser so far is food giant Kerry, which has dropped 22c to €18.88 so far.

Elsewhere shares in Ryanair have climbed, up 10c to €5.87.

The most traded shares this morning are the new ETF shares, followed by AIB, CRH, Bank of Ireland and McInerney.