ISEQ plummets in early trading

Financial stocks endured heavy losses this morning as the ISEQ index of shares fell 108.25 to 7308.89 in early trading.

Irish Life & Permanent bore the brunt as its shares fell 44c to €17.85. Bank of Ireland was down 34c to €13.95, while AIB shed 32c to €18.07.

Anglo Irish lost 6c to stand at €11.14.

Meanwhile, CRH was down 56c to €24.73, as the Kerry Group lost 30c to 16.

Shares at business support services group DCC plc were up 10c to €18 as it announced that it yesterday purchased 1,038,311 of its own shares at a price of €17.90 per share and at a total cost of €18.8m, including stamp duty and commission.

The 1,038,311 shares purchased are to be held as Treasury Shares.

The purchase represents 1.29% of its issued share capital (excluding Treasury Shares).

DCC now has a total of 8,526,489 shares held in Treasury and 79,702,915 shares in issue, excluding the Treasury Shares.