ISEQ suffers heavy losses

The ISEQ index of Irish shares mirrored the negative trend across the water today, plummeting 238.10 points to 6954.02 by the end of day's trading.

The ISEQ index of Irish shares has closed at its lowest level for more than six months following a slump on world markets.

The ISEQ plummeted 238.10 points to 6954.02 by the end of day's trading.

Financial, food and construction stocks suffered sharp reductions.

All the financial heavyweights suffered losses today with AIB falling €1.00 to 16.75, a drop of 5.63%.

Anglo Irish Bank fell 41c to €10.69, Bank of Ireland was down 37c to €12.98 while Irish Life and Permanent fared slightly better, falling 24c to €17.46.

One of the biggest losses of the day fell to Dragon Oil, which saw nearly 13% wiped off their share value. It fell 50c to €11.75. Tullow Oil was also in the red, falling 28c to €4.50, almost 6%.

Food company Greencore was one of one two companies to end the day in positive territory, rising 7c to €3.77. Elsewhere e-learning company Thirdforce rose 1c to €0.27.