ISEQ plunges

Almost 2.5% was wiped off the value of Irish shares today, as the ISEQ index plummeted 173.43 points to 7024.13, despite positive news from the markets in Europe and the UK.

The financial sector was hit hardest, with Allied Irish Bank faring the worst, sinking 97c to €14.46. Both Bank of Ireland and Irish Life & Permanent both dropped a massive 57c to finish on 9.83 and €14.58 respectively, despite the former announcing a 24% rise in profits. Anglo Irish Bank escaped relatively unscathed, slipping 28c to €10.12.