Lehman closure drags ISEQ down

The ISEQ index of Irish shares plummeted this evening 140 points to 4,205.67 following news that US investment bank Lehman Brothers have become the latest casualty of the US sub-prime mortgage crisis.

There was a negative impact on all sectors, with the the financial heavyweights among the biggest fallers. AIB dropped 47c to €7.51 with Bank of Ireland down 24c to €4.78. Anglo Irish Bank fell 39c to €4.65 with Irish Life and Permanent suffering the biggest blow down 90c to €5.85.

Elsewhere within the construction sector Grafton fell 4c to €3.38 with McInerney down a modest 2c to 33c. Kingspan fared a lot worse losing 40c off its share price to end the day on €6.90.