ISEQ down 5% in early trading

The ISEQ index of Irish shares followed global trends amid fears of a global recession and was down 135.90 to 2,514.31 at 11am this morning.

Once again banks were hit hard, with all of the major institutions down. AIB and Anglo Irish Banks were both down 27c, to €2.89 and €1.58 respectively. Bank of Ireland was down 20c, or 12.5%, to €1.40 while Irish Life & Permanent suffered a massive 50c loss, down to €1.65, a drop of 23%.