ISEQ down more than 3%

The ISEQ has had a torrid start to the day's trading with the index seeing a 3.21% fall by 11am this morning.

The Dublin stock exchange is down 93.6 points to 2,821.14 - the financial sector leading the downturn.

Insurance giant FBD Holdings has fallen €1.25 to €11, a decrease of more than 10%. Of the banks, Bank of Ireland was the biggest victim with a 27c slump to €1.65 while Irish Life and Permanent tumbled 23c to €3.62 and the AIB stumbled to €3.50 after a 22c decrease. Anglo Irish Bank saw its share price go down seven cents to €2.

In the construction sector, CRH experienced a 39c dip to €15.41 and Kingspan went down by 12c to €4.60.

The food sector was in sympathy with the negative mood as Kerry Group climbed down 53c to €17.42 and Donegal Creameries slipped 14c to €4.40.