Aer Lingus shares slip on ISEQ

The ISEQ index of Irish shares managed to remain in the black this morning, rising 8.85 points to 2,243.94.

Investors' response to the Government's rejection yesterday of Ryanair's bid to take over Aer Lingus saw the former flag-carrier lose over 15% of its value by 11.30am, falling 21c to 1.14.

Ryanair, meanwhile, was up 6c to 3.10.

In the banking sector, some of the catastrophic losses of earlier this week were being clawed back, with AIB up 13c or 20.81% to 0.75, Bank of Ireland gaining 9c to 0.40 and Irish Life & Permanent up 1c to 1.45.

A notable gainer was Kerry Group, up 25c to 14.76, while fallers included Paddy Power, slipping 20c to 11.15, and CRH, dropping 25c to 17.58.