ISEQ is down
The ISEQ index of Irish shares was down this morning, falling 86.46 points to 9714.40.
On a morning when Oppenheim Investment managers encouraged the Government to create more saving incentives the financial institutions were all hit on the trading floor.
Kevin Gallacher, managing director, Oppenheim Investment Managers, said: "The Government may argue that it would not be wise to commit to another five years of guaranteed 25% top-ups, but a tax-incentivised saving scheme doesn’t need to involve government rebates. There is a similar scheme in place in the UK at present that could act as a model for Ireland."
The ISA scheme operates in the UK. This allows individuals to invest up to £7,000 (€10,230) per annum in a savings account that is subsequently allowed to grow tax-free.
AIB were the hardest hit, down €0.25 to €22.35, and Bank of lreland were not far behind, falling €0.16 to €16.20.
IL&P fell €0.06 to €19.85 while Anglo Irish were down just €0.01 to €17.19.
