Morning sees Iseq slip 11 points

The Iseq index of shares has had a negative start to the day with a 11-point fall by 11am.

The Dublin stock exchange stood at 8,952.8 after slipping 11.29 points.

The fall, lead by the financial sector, offset a huge increase recorded by UTV who are in merger talks with Scotland's largest media company SMG. The media company saw their stock soar €3.60 to €9.10.

Irish Life and Permanent led the decline in the financials with a 37c fall to €19.65, while both the Bank of Ireland decreased by 11c €16.36 respectively. Anglo Irish Bank had a six cent fall to €15.34, but AIB bucked the trend with a five cent increase to €21.69.

Paddy Power was another major faller, down 30c to €15.05.

Budget airline Ryanair saw their stock climb 12c to €9.62 after announcing six new routes accross Europe this morning. Aer Lingus slipped a cent to €2.71.