AIB shares dip below €2

The share price of Allied Irish Bank (AIB), Ireland‘s largest Bank dipped below €2 in early trading this morning with a slight rally later but a sharp drop again after lunch.
As I write, it has dropped again to just above the €2 mark:
AIB Price Nov 20 08
AIB Price Nov 20 08

This follows hot on the heels of Bank of Ireland  (BOI) falling below the landmark €1 mark on Monday of this week after their announcement that they were completely cancelling their dividend payment policy. This was followed by Anglo Irish bank falling below €1 yesterday.

AIB shares have fallen over 90% in value since the peak in early 2007. If they are to fall below the €1 it would mark almost complete wipeout for the Irish banking sector in just a few months.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s