ISEQ steadies to finish with 2.2% loss

The ISEQ index of Irish shares recovered somewhat from an early battering, but still slumped by more than 2% by close of business today, down 138.71 to 5,967.16.

The financials were among the worst hit, with all companies enduring serious declines. Irish Life And Permanent was the worst hit, sinking 77c to €10.48. Anglo Irish Bank (down 62c to €7.78) and Bank of Ireland (down 56c to €7.59) also fell sharply. Allied Irish Banks did relatively well given the mood, losing 32c to €12.58.

There was some good news on the Exchange however. DCC rebounded a full €1.15 to finish on €16.10. Iona jumped 12c to €2.36. After announcing a profits rise, airline Ryanair jumped 14c to €2.84, although rival Aer Lingus lost 14c to €2.84.

The food and drink sector was also the subject of some buying, with some encouraging gains present. Iaws jumped 57c to €16.20, with Kerry Group up 36c to €19.76. Greencore enjoyed a more modest gain to €3.21.

Elsewhere however, there were heavy losses across the Exchange. In the construction sector, CRH lost a full 70c to €23, with Kingspan losing 12c to €6.68.

Other heavy losses included Elan (down 32c to €16.18) and FBD (down 30c to €23.70).