ISEQ suffers heavy losses

The ISEQ index of Irish shares closed down 87.21 points to 2,434.08, a loss of 3.46%.

The decline mirrored losses on European markets as renewed fears over the continent’s debt crisis rocked banks across the continent.

Among the fallers, Smurfit Kappa closed down 34c to €4.96; CRH was down 65c to €11.12; Ryanair shed 13c to €2.95; Kingspan closed down 20c to €6.00 and Kerry Group slipped 74c to €26.26.

On the risers' board, Providence Resources was up 31c to €2.51, Petroneft added 4c to €0.36 and Fyffes was up 2c to €0.39.