Industry & Business

Brexit Hits Irish Stock Market

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Brexit Hits Irish Stock Market

June 27
10:37 2016

Ryan-Air-record-profitMany 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.

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