Gloom continues on Irish Stock Exchange

The Irish Stock Exchange took another heavy hit this morning after yesterday’s disastrous losses, as the value of Irish shares dived by more than 2%.

The ISEQ index was down 101.71 points to 4.517.19 by mid-morning.

The financials steadied somewhat after yesterday’s turbulence, with both Anglo Irish Bank and Bank of Ireland unchanged so far at €5.28 and €5.01 respectively. Allied Irish Banks dropped 24c to €7.16 however, as Irish Life And Permanent shed 15c to €4.45.

The construction sector continued its downward trend, with CRH losing 25c to €16.20. Kingspan fell 22c to €6.

In a morning that had yet to produce one gain of any significance, Elan took the heaviest hit, plummeting €1.44 to €20.21. FBD was another casualty of the mood of pessimism, sliding 50c to €14.20.

In the food and drink sector, Kerry Group shed 20c to €18.20, with Glanbia falling 15c to €4.65.

Elsewhere, DCC endured a 12c loss to €15.45. Paddy Power was the other big faller of the day, shedding 17c to €17.90.