Dismal morning on Irish Stock Exchange

The value of Irish shares slid 60.66 points by 11.05am today as negative economic news in the US hit home.

The financials all declined, but have avoided any serious drops so far. Irish Life & Permanent escaped relatively unscathed, stumbling 2c to €19.55. Allied Irish Bank (down 10c to €20.85), Bank of Ireland (down 11c to €15.19) and Anglo Irish Bank (down 14c to €12.86) did not fare as well.