skip to main content

5.15pm Markets Update

European stock markets recorded heavy losses as weak US employment and service sector figures added to concerns about the country's housing market.

Paris ended down 1.5%, while Frankfurt lost 1.3%. London's FTSE dropped 1.2% to 6,224, with banks taking the worst hit. Royal Bank of Scotland slipped 2.8% to 581p despite beating expectations with an 11% rise in half-year profit.

In Dublin, the ISEQ ended down 100 points at 8,595, with AIB losing 57 cent to €19.04 and Bank of Ireland dropping 33 to €13.87. But DCC won back some ground, jumping €1.45 to €23.55.

On Wall Street, the Dow Jones was 40 points lower at 13,424, while the Nasdaq was off 10 at 2,566. Japanese share prices ended mixed amid persistent concerns about problems in US credit markets. The Nikkei fell back four points to 16,980.