ISEQ dives almost 5%

The ISEQ index of Irish shares was down sharply in early trading this morning, mirroring a global sell-off prompted by lingering fears over the eurozone debt crisis as well as mounting concerns over tensions on the Korean peninsula.

The overall index was down 4.76% at 11.45am, shedding 137.29 points to 2,748.85.

Banking shares were among those suffering, with AIB down 17c to €0.87, Bank of Ireland shedding 8c to €0.65 and Irish Life & Permanent 16c off at €1.90.

Also taking a hit this morning were CRH, down 93c to €16.87; DCC, falling 80c to €17.54; Kerry Group, down 45c to €21.06; Tullow Oil, down 39c to €11.90; Kingspan, 36c off at €6.65; Aryzta, down 30c to €26.10; Elan Corp, down 27c to €4.28; C&C, down 26c to €3.03, Smurfit Kappa, slipping 26c to €6.22; Paddy Power, down 20c to €24.30 and Ryanair, down 10c to €3.03.