Deutsche Bank has been to the fore in dragging European banks lower and they have been forced to release a statement on their debt. Markets are in an ugly mood but we'll see if that calms banking stocks at least in the morning.
http://www.irishtimes.com/business/markets/european-shares-sink-to-lowest-in-more-than-two-years-1.2527281 Irish shares were routed across the board. CRH finished 8 per cent lower at €21.14, mirroring weakness across the building materials sector globally. Cavan-based construction stock Kingspan was another standout loser on the day, down 10 per cent at €19.31. Bank of Ireland was also down 10 per cent at 25.5 cent while Permanent TSB finished 9.4 per cent lower at €3.308. Ironically, AIB’s shares finished 3.7 per cent higher but this is a meaningless indicator as the company is more than 99 per cent owned by the State and there is no trading in the shares by institutions.
might be because iseq had a nightmare today , kingspan dropped 10% , the iseq is extremely expensive compared to other european indices and is also very iliquid , would not take much for it to roll over and the drop would be much bigger if it did
its oversold in the short term and should bounce back above 28 cents by end of week , even its only a brief rise above that level , good short term trade assuming an absolute plunge doesnt occur , funny thing about this current market sell off is that its been relatively slow in unfolding , there has been no august 24th event so far
Wow. I'm completely gobsmacked!! Ok I bought in at 10 cent. But right now looks like we are at the beginning of a major correction.... I just looked at the 1 year and 2 year chart. It's very very poor. It's saddens me to see us back at a sp not seem since 2014!
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