Members of Sean Quinn’s family are opposing an application for court orders to stop them receiving any further living expenses out of accounts controlled by receivers appointed over assets linked to Quinn companies.

The ISEQ index of Irish shares followed global trends amid fears of a global recession and was down 135.90 to 2,514.31 at 11am this morning.

Four of the country’s biggest banks united today to stress that business remained open as usual despite the economic slowdown.

The ISEQ index managed to finish in the black today after a late buying surge, climbing 35.65 points to 7551.93.

The ISEQ index took an early hammering before 1pm today, losing an incredible 260.89 points to decline to 7,418.13 in a miserable morning of trading where no company made any gains.