Poor morning trading for ISEQ
The ISEQ index of Irish shares plunged 66.79 points to 8346.27 by 11.30am today in what was a downbeat morning of trading on the Irish Stock Exchange.
The financials took some heavy hits, with Allied Irish Banks sinking a full 40c to €19.08, with Bank of Ireland (down 29c to €13.20). Competitors Anglo Irish Bank (up 2c to €13.97) and Irish Life & Permanent (down 6c to €18) escaped relatively unscathed.
The food sector was very much out of favour with investors, with many major players losing value fast. Donegal Creameries plummeted 50c to €6.20, as Kerry Group fell 18c to €17.82. Iaws did moderately better, losing just 10c to €14.15.
The biggest loss of the day however came for DCC, which sunk 71c to €19.79.
There was some good news however, with CRH surging ahead, soaring €1.08 to €31.40 after reporting a 27% increase in profits. Elsewhere in the construction sector, Kingspan rose 19c to €17.44, with Abbey climbing 10c to €9.30.
Elan also did well, jumping 78c to €14.50, as did FBD (up 80c to €27.50).
Aer Lingus edged up 3c to €2.45, with Ryanair up 4c to €5.12.
