ISEQ slumps

Irish shares on the ISEQ index slumped this morning dropping 65.40 points to 9326.15.

Following a promising start to the week most of the main contenders on the financial front dropped into negative territory with the biggest loser AIB setting the pace as it plummeted by 25c to €22.40 before midday.

Bank of Ireland headed in the same direction losing 10c to stand at €17.30 while Anglo Irish Bank lost 5c at €15.85.

On a more positive note IL&P seemed to turn the tables on yesterday's losses and climbed by 8c to €21.10.

Elsewhere Irish concrete company Readymix have announced that an increase of profit before tax is expected to jump by 28% on 2005 pushing the shares up by 1c to €2.70.

Readymix chairman Adrian Auer said: "A very significant improvement in financial performance has been achieved in 2006. "