Iseq: 2,871.25 (-166) at 5.30pm:Battle weary Dublin traders breathed a little easier today as the Irish exchange outperformed its European peers. The champagne wasn't popping however as market players reflected on one of the worst weeks in the capital in recent times. The overall index lost 5.48 per cent, or 166.54 points to close at 2,871.25. That was a loss of almost 20 per cent on the week as the Iseq opened at 3587.69 on Monday.
Elsewhere in Europe, the FTSE 100 closed down 381.7 points at 3,932.1, its second biggest points loss ever, dropping below the 4,000 level for the first time in more than five years after its worst week since the crash of October 1987, losing 1,048.2 points.
It could have been a lot worse in Dublin with the overall Iseq index falling 7.5 per cent after the first half hour of trading. It was down just 3.1 per cent by lunch time compared to a 7.2 per cent fall in London's FTSE all-share index.
For once the banks didn't figure on the list of biggest fallers and Irish Life and Permanent was one of the biggest gainers adding 5.55 per cent to finish at €3.536.
Anglo Irish Bank was also one of the few stocks in positive territory. By mid-morning it had lost almost 5 per cent to change hands at €2.157 but an afternoon rally saw Anglo close at €2.255, a gain of 1.5 cent on its open. Allied Irish Bank was sold off heaviest of the financials and shed over 7 per cent of its value to close at €4.238
C&C directors were in the market the day after chief executive Maurice Pratt announced his departure. The purchase of 400,000 shares by Philip Lynch and 18,895 shares by Richard Holroyd did little to the share price which shed over 2 per cent to close at €1.40.
