ISEQ sinks more than 4%

The value of Irish shares plunged more than 4% today as the ISEQ index of Irish shares lost 127.44 points to 2,982.71, falling back below the psychologically significant 3,000 mark.

In the financial sector, Irish Life and Permanent fell 16c to €2.30. Allied Irish Banks did little better, down 13c to €1.11. Given the mood of gloom on the Exchange, Bank of Ireland will be glad to finish unchanged on €1.42.