Brexit Hits Irish Stock Market
Many of Ireland’s largest companies are seeing downgraded stock ratings as recent analysts are predicting lower earnings as a result of the Brexit.
Early this morning, shares for Ryanair fell by 5% after a 9.8% sell off last Friday. Easyjet even issued a profit warning. Evercore ISI analysts in London even downgraded their Irish stock.
Bank of America cut shares in Kingspan which contributed to a 3.7 fall in stock on top of the 21% drop on Friday.
Dublin analysts at Investec reviewed the Bank of Ireland and predict that the slower UK loan growth might benefit Irish economic growth.