THE early sell off on Wall Street after the Intel profits warning and the 51 point fall on the FTSE meant that the Irish market fell sharply from its all time high, with the financials bearing the brunt of the selling pressure as the market fell over one per cent.
Financial shares were lower across the board but Bank of Ireland fell 15p to 715p, while AIB was 8p lower on 505p. Irish Life fell 10p to 340p while Irish Permanent was 2p easier on 640p. Smurfit fell 2p to 182p, while CRH was 2p lower on 653p.
Ryanair continued to trade in hefty volumes on the grey market ahead of next Thursday's formal listing in Dublin and New York. From the overnight 315p, the shares went as high as 323p before trading erratically to a low of 290p before recovering in later trading to close on the overnight level of 315p.
Avonmore continued to gain ground as the market muses on the likelihood of the merger with Waterford going ahead successfully. Avonmore shares closed up 4p on 259p, although Waterford was 2p lower on 118p, well off the notional value that the Avonmore offer puts on the shares. James Crean was 5p easier on 230p, as news of asset sales is awaited while Golden Vale continued to nudge ahead with a 1 1/2p jump to 72 1/2p.
Greencore traded erratically and, from its overnight 343p, fell as low as 333p before closing down 3p on the day on 340p. Independent lost 7p to 333p, Kerry was 15p easier on 640p while Tullow was 5p higher on 100p.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)