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| CRH, the international building materials group, was formed through a merger in 1970 of two leading Irish public companies, Cement Limited (established in 1936) and Roadstone Limited (1949). CRH accounts for about one third of market capitalisation on the Irish Stock Exchange and more than 80% of CRH's shares are held outside Ireland. |
In New York Wednesday, stocks fell as investors again dumped bank stocks and a grim report on sales of existing homes, dampened general sentiment.
The Dow Jones Industrial Average dropped 132 points or 1.8% to 7,219. The S&P 500 fell 1.68% and the Nasdaq Composite Index declined 1.63%.
Finfacts Report: US existing home sales fall again in January; Distressed sales account for 45% of market
Citigroup is down 3.5% and Bank of America is down 1.1%.
Live US Indices
European stocks fell for a fourth straight day, wiping out an earlier rally. The reverse has been attributed to a downgrade of Ukraine’s debt to a par with Pakistan's and an unexpected fall in US existing home sales boosted worries that the credit crisis is deepening.
The pan-European Dow Jones Stoxx 600 Index dipped 0.6%.
In London, the FTSE 100 rose 0.44% and most of the Western European markets have fallen.
In Dublin, the ISEQ Index is up 1.3%.
The Irish market is mainly up because of CRH's rise of 4% -- the second-biggest building materials supplier in the US, accounts for about one third of Irish market cap. It is also listed on the New York Stock Exchange.
European Benchmarks
Irish Share Prices
Euribor Rates
Oil
On the New York Mercantile Exchange, oil for March delivery is trading at $40.99 up $1.03 from Tuesday's close. In London, Brent crude for March delivery is trading at $43.62 a barrel up $1.12.
Currencies
The euro is trading at $1.2754 and at £0.8936.
Bloomberg reports today that European Union officials are concerned that the pound’s slide to a record low against the euro could destabilize the British economy, according to a document prepared last month by European Commission and EU finance ministry officials.
The pound’s “very rapid” drop “raises questions about the financial stability of the British economy,” said the document, which was prepared ahead of the Feb. 14 Group of Seven meeting in Rome and obtained by Bloomberg News. The currency’s weakness “is a source of concern for the euro area.”
For live currency updates, check the right-hand column of the Finfacts home page.
The dollar traded at a record low $1.6038 per euro on July 15th.
