ISEQ plummets 48 points by 11am

The Irish index of shares has had a significant fall in trading with the Dublin Stock Exchange going down 48.06 points by 11am this morning.

The banks didn’t help the current trend with Irish Life and Permanent falling 22c to €2.35 and Anglo Irish Bank down 3c to 30c. AIB was as bad after an 18c decrease to €2.08 while Bank of Ireland followed down 2c to €0.93c.

Paddy Powers shares followed suit down 60c to €11.30.

The food sector was also in negative territory Glanbia was down 8c to 2.61, Fyffes remained unchanged while Kerry Group found itself down 7c to €14.61.

The construction industry didn’t do much to inspire confidence with CRH down 45c to €18.20. Kingspan dropped by 9c to €2.81 and Grafton dropped 12c to €2.08.