ISEQ suffers more losses

The ISEQ index of Irish shares began the morning with a loss of 95.87 points to 6402.66.

Despite AIB announcing a 49.99% acquisition in Bulgarian-American Credit Bank, the finanial heavyweight suffered a loss of 19c to €13.61. The rest all followed suit with Bank of Ireland down 22c to €9.28, Anglo Irish Bank falling 21c to €8.63 and Irish Life and Permanent down 6c to €10.14.

It was bad news all round this morning with losses continuing within the food sector. Kerry Group led the way dropping 35c off its share price to €19.36. IAWS fell 14c to €12.21 and Glanbia was also down 8c to €4.87.

Paddy Power bookmakers suffered the biggest loss of the morning plummeting 79c to €20.51.