Heavy loss for ISEQ in early trading

The value of Irish shares declined by more than 2% by mid-morning, as the ISEQ slumped 92.53 points to 4,466.32.

All the financials took a hit, with only Bank of Ireland facing a single-digit loss, down 4c to €5.86. Anglo Irish Bank was the worst affected, losing 19c to €5.51, with Allied Irish Banks (down 18c to €8.57) not far behind. Irish Life And Permanent slid 15c to €7.01.