The Iseq index of Irish shares underperformed other European indices today, falling 3.5 per cent as its major stock CRH fell more than 6 per cent.
The building materials group closed down 94 cent at €14.06, while another major stock, pharmaceutical group Elan, was also a heavy faller, declining 9.5 per cent to €3.89, down 41 cent.
The Dublin market opened flat, but horrendous economic figures emerging from the US at around lunchtime sent the index into decline in the afternoon. Unemployment in the US is now at its highest level in 25 years, according to the new data, which weighed on market sentiment.
Aer Lingus published figures showing that the number of passengers it carried in February was down 8 per cent on the same month last year, but the airline's load factor - or percentage of seats on airplanes filled - increased to 72 per cent. The stock closed flat at 72 cent. However, Ryanair fell 2 per cent to €2.87.
Elsewhere, trading volumes were thin, although drinks group C&C attracted some buyer interest as trade data from AC Nielsen showed that the price gap between its Magners cider and Heineken's cider offerings in Britain was closing. This was viewed as positive for the stock and it traded up in the early part of the day before closing flat at a share price of €1.13.
Banking stocks rebounded after Thursday's sharp declines, with Bank of Ireland closing up 6 cent at 18 cent and AIB climbing 7 cent to 34 cent.
Next week sees the publication of interim results from food group Aryzta and Origin Enterprises as well as full-year results for Aer Lingus.
