ISEQ plunges in morning trading

The ISEQ index of Irish shares plunged this morning by 90.34 points to 5631.33 amid reports that the crisis at US investment bank Bear Stearns will add to the pressure on world markets.

All the financial heavyweights suffered a loss with Anglo Irish Bank leading the way, falling 70c to €6.25. Irish Life and Permanent fell 32c to €9.90 with AIB following suit dropping 33c off its share price to €11.83. Bank of Ireland was down 16c to €8.45.