ISEQ in negative territory

The Irish Stock Exchange began the day's trading in negative territory down 9.05 points to 7783.93.

Leading the downturn was Paddy Power bookmakers plummeting 68c to €25 and suffering the biggest loss of the morning. Pharmaceutical giant Elan did not fare much better dropping 35c to €14.59.

The financials had a reasonably better morning, AIB was up 6c to €16.69, as was Bank of Ireland to €12.66 and Anglo Irish Bank to €12.76. Irish Life and Permanent however, followed the day's negative trend and were the only financial house to fall 10c to €15.25.

There was positive news elsewhere with Kerry Group up 23c to €20.61.