Stocks tumble as wary investors flee firms linked to troubled developer

STOCKS LINKED to developer Liam Carroll suffered sharp falls on the Irish stock market yesterday, as investors shied away from…

STOCKS LINKED to developer Liam Carroll suffered sharp falls on the Irish stock market yesterday, as investors shied away from companies in which the troubled property developer has a significant stake.

Food group Greencore, of which Mr Carroll owns close to 30 per cent, tumbled 7 per cent to close at €1.06.

Ferry operator Irish Continental Group, in which he has a stake of just over 29 per cent, also came under pressure yesterday. At one point the stock touched €9.50, a fall of 50 cent, although it finished unchanged at €10.00.

AIB, which has the largest exposures arising from Mr Carroll’s developments, came under pressure, dipping to €1.57, but it recovered to finish at €1.73.

READ MORE

Mr Carroll will seek the appointment of an examiner to his Zoe group of companies next Monday.