Value of ISEQ plummets

A depressing 1.68% was wiped off the value of Irish shares as the ISEQ index plummeted 127.59 points to 7463.65 today.

It was a dismal day for the financials, with Allied Irish Banks the worst performer, sliding 50c to €18.21. Anglo Irish Bank and Bank of Ireland both lost 27c to €11.60 and €13.70 respectively. Irish Life & Permanent escaped relatively unscathed, slipping 8c to €17.82.

The downwards tread was led by the construction sector however, with Abbey crashing €1.03 to €8.05. McInerney holdings lost 44c to €11, with CRH faring little better (down 35c to €26.15. Kingspan lost 15c to fall to €13.35.

Elsewhere, Irish companies suffered a torrid time, few worse than FBD, who plummeted 90c to €38.

The food sector performed poorly, with Kerry Group losing 24c to €16.01 and Greencore shedding 10c to €4.10 amid the controversy regarding the EU beet compensation deal.

Paddy Power endured another World Cup hangover as it fell 24c to €16.01. Technology firm Icon lost 45c to €44.

Ryanair down 23c to €7.47 following positive news from rival Easyjet.

Good news was few and far between. The only significant gains were made by Donegal Creameries (up 10c to €4.40) and Iona (up 15c to €3.40).