September 19 2008
Rumours this morning that Bank of Ireland is to be taken over by Spanish Bank Santander have sent all Irish bank shares rocketing on the Dublin Stock exchange this morning.
At 9:17 am, the Irish banks were up by the following percentages:
AIB up 34.1% at €7
Bank of Ireland up 33% at € 5.03
Irish Life & Permanent up 20% at €6.15
Anglo up 41% at €6.13
The turmoil of the last few days has seen international investors dump Irish bank shares, and the market is now recognising that these have been over-sold with huge jumps on the news that large european banks are ready to pounce.
The following table is taken from Merrion Stockbrokers website: