ISEQ sent reeling following B&B profits scare

The ISEQ index was sent reeling this morning following yesterday's profit warning from British lender Bradford & Bingley.

Banks across Europe dropped 1% yesterday while Irish traders were closed for the holiday, but on opening Irish shares swiftly plunged by almost 3% and have since been struggling to regain some ground.

By midday the ISEQ stood at 5,960.72 having clawed back a fraction of losses, but banking big guns, who suffered a sever blow, continue to haemorrhage value.

Anglo Irish Bank has tumbled 66c, nearly 8% to €7.74, IL&P slipped 59c to €10.66 while Bank of Ireland fell 59c to €10.66.

AIB also in a downward spiral fell 41c to €12.49.