ISEQ continues on downward spiral
The ISEQ-index of Irish shares has continued on its downward spiral today dropping 66.72 points closing at 9632.81.
As the Central Bank warned that surging price rises in Ireland are threatening the country’s economic future shares at all the major financial institutions suffered losses.
AIB, as the biggest loser shed 73c at €21.62 while IL&P fell 26c at €21.24. Closely at its heels Anglo lost 22c per share at €16.37 while Bank of Ireland also fell losing 17c at €21.24.
Economists charged with the country’s financial stability say they are worried about the rate of inflation – now the highest of all countries using the euro.
However, the outlook remains good for the rest of the year, with the economy expected to grow (4.75%) before slowing a bit next year (4%), they stressed.
