ISEQ follows world downward trends

Following a day of turmoil on the world’s stock markets, the ISEQ index of Irish shares declined by almost 4%, tumbling 155.48 points to 4,050.19.

As predicted, the mood of despondency hit some of the financials particularly badly, although it could certainly have been worse. Anglo Irish Bank (down 10c to €4.55) and Bank of Ireland (down 16c to €4.62) escaped relatively unscathed. The news was not as good for Allied Irish Bank (down 56c to €6.95) and Irish Life & Permanent (down 52c to €5.34).