Iseq ends day 1.3 per cent lower

The Iseq index of Irish shares finished down 1.3 per cent this afternoon, falling 80 points.

The drop was not as quite as sharp as those suffered by the FTSE index in London or other major European

indices.

Cider makers C&C was the highest climber, rising 4 per cent, as the stock was buoyed by speculation of merger activity within the drinks sector.

Paper and packaging group Smurfit Kappa was the biggest faller, plunging 6.6 per cent.

Britain's leading stock index slid 1.53 per cent to end its worst week since early February as miners and oil shares weighed, though Cable & Wireless rose on upbeat broker views.

The FTSE 100 closed down 94.3 points at 6,087.3, for a weekly loss of 217 points. The UK stock market will close on Monday for the Spring Bank Holiday.

European stocks fell 1.7 per cent, losing ground for the third time in four sessions as a dip in metal prices prompted investors to book recent lofty gains on mining shares.

Oil prices also weighed on sentiment as they resumed their climb, fuelling worries over inflation and the outlook for company results.

The FTSEurofirst 300 index of top European shares closed 1.7 per cent lower, at 1,322.22 points. The index ended the week with a loss of 3.1 per cent, its worst weekly performance since early March.

The DAX index ended at 6,944.05 points, down 126.28 or 1.79 per cent, dropping 212.5 points since last weekend.

In Paris, the CAC-40 index closed at 4,933.77 points, down 94.97 or 1.89 per cent, losing 144.27 points during the week.

Japan’s Nikkei average rose 0.24 per cent, led higher by exporters such as Kyocera on a softer yen, while Chugai Pharmaceutical gained after partner Roche said it would increase its stake in the Japanese drug maker.

The Nikkei average added 33.74 points to 14,012.20. It fell 1.5 per cent or 207.28 points for the week, after gaining 4.1 per cent the previous week.

Additional reporting: Reuters