AIB shares down almost 8%

Shares in Allied Irish Banks were down by almost 8% this morning after the bank announced record losses of just over €2bn for the first six months of the year.

AIB shares were trading at €0.91 at 11.40am, a drop of 8c or 7.89%.

The wider index was also in the red, slipping 43.81 points or 1.48% to 2,918.05.

Joining AIB on the fallers' board were fellow financials Bank of Ireland and Irish Life & Permanent, respectively shedding 5c to €0.81 and 6c to €1.78.

Also in the red were Aryzta, down 42c to €31.00; CRH, slipping 32c to €15.99; Grafton Group, shedding 10c to €2.84; Paddy Power, 18c off at €27.60 and Smurfit Kappa, down 15c to €8.10.

On the risers' board, Tullow Oil added 42c to €15.44; Norkom Group was up 10c to €1.34 and Kingspan climbed 10c to €5.70.