The Irish market again under-performed its European peers today, as stocks fell almost across the board, leading the Iseq down by 61.19 points, or 2.3 per cent, to 2,600.57.
Tullow Oil was one of the few "bright lights" on the day, as it soared by 19.7 per cent or by €1.12 on the back of successful drilling results from wells in Ghana and Uganda. It closed up at €6.80.
A good performance from CRH, which now accounts for 34 per cent of the Iseq, saw it hold onto its gains and close almost flat on the day at €20.49.
After losing a quarter of its value yesterday, Anglo Irish Bank rebounded today, climbing by 15.2 per cent, in another day of heavy trading for the stock. However, this only added 5 cent to bring its price up to €0.38.
Elsewhere, most stocks were in the red and the other banks were weak, as concerns remain over the future of Irish banks. AIB lost 20 cent, or 8.7 per cent, to finish down at €2.05 and Bank of Ireland dropped 5 cent, or 5 per cent, to close below the €1 level at €0.95.
Irish Life & Permanent was also in negative territory today, losing 8 cent, or 4.5 per cent, to close down at €1.61.
Ryanair also fell back, with brokers attributing the decline to profit taking, as oil prices rise once again. The stock closed down by 19 cent, or 5.7 per cent, at €3.04.
Having advanced significantly in recent weeks, Aryzta slipped again today, losing €1.35, or 5.8 per cent, to close down at €21.80, while DCC gave up 26 cent, or 2.3 per cent, to finish down at €10.99.
Also weak today was Smurfit Kappa, which lost 20 cent, or 11.6 per cent, to close down at €1.53.
In the US, the S&P 500 fell sharply in early trading as higher than expected jobless claims sent stocks falling, but by 11.28 am it had recovered somewhat, and was down by 0.4 per cent to 895.63. The Dow Jones Industrial Average also slipped in morning trading, declining by 36.56 points, or 0.4 per cent, to 8,724.86.
Although the cost of borrowing for in dollars fell to its lowest level in more than four years in London, bank stocks were weak across Europe today.
In Germany, the Dax lost 0.8 per cent to fall back to 4,767.20, while in Paris the CAC 40 dropped 0.4 per cent to 3,306.13.
In London, rising oil prices lifted energy stocks, causing the FTSE 100 to climb by 21 points, or 0.5 per cent, to 4,388.69.
