Iseq drops over 120 points

The Iseq index of shares has continued its poor week as speculation grows that Ryanair have made another move for Aer Lingus by buying shares in Aer Lingus.

The Iseq index of shares has continued its poor week as speculation grows that Ryanair have made another move for Aer Lingus by buying shares in Aer Lingus.

The Dublin stock exchange shed 120.43 points today to stand at 8625.9 by the close of business.

Aer Lingus saw the greatest activity on the market today after they announced they carried 760,000 passengers during October, up by just over 6% on the same month last year.

The former state-owned airline recorded a 2c loss to €2.65 as its share price continues a steady decline in value.

The airline said the figures were affected by the terrorism alert at UK airports in August, which hit advanced bookings for August, September and October.

Short-haul passenger numbers grew by 8.2%, but the load factor - a measure of how full its planes were - dropped 2.2 points to 73.8%. Long-haul passenger numbers fell 5.8%, with the load factor falling 5.7 points to 77.3%.

Aer Lingus also released figures for the first 10 months of the year, which show an 8% rise in passenger numbers to just over 7.3 million.

Rival Ryanair saw its share price fall 11c to €9.45.

The financial heavyweights contributed to the general downturn as AIB fell 58c to €20.57 while Bank of Ireland lost 6c to €16.10.

IL&P tumbled 39c to €19.40 after they announced the appointment of Denis Casey as group chief executive designate of the group. It follows the announcement that David Went will retire from this position in May of next year..

Anglo Irish Bank slipped by 22c to €14.20.

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