Miserable morning for ISEQ
The ISEQ index dropped 64.86 points to 7953.16 by 12.45pm this afternoon with little upward movement practically non-existent on the exchange.
The financials reflected the overall mood, although all but Irish Life & Permanent, who plummeted 35c to €18.85, managing to avoid any major drops. Allied Irish Bank slid 17c to €20.13, whilst Bank of Ireland dropped 13c to €14.52. Anglo Irish Bank fared somewhat better, shedding a mere 9c to fall to €12.46.
Elsewhere, the construction sector endured a rare period of selling, with CRH (down 20c to €26.60), Grafton (down 17c to €10.68), Kingspan (down 12c to €15.13) and McInerney Holdings (down 10c to €11.90) all losing ground. Abbey bucked the trend slightly, inching up 5c to €9.10.
Kerry Group was the biggest faller of the day, crashing 52c to €16.90, followed closely by FBD (down 49c to €38). Elan fell to €12.05 after a 19c fall, and DCC dropped 13c to €19.42.
IAWS and Irish continental both shed 10c to drop to €15.50 and €10.90 respectively.
Any gains made were insignificant, with C&C (up 6c to €10.31) and Ryanair (up 3c to €7.71) cases in point.
