Irish building shares slide on debt fears
Published:  06 January, 2011

DUBLIN: Shares in building materials giant, CRH, the Irish market's biggest company which accounts for almost 30% of the Iseq index, shed 4% falling to €14.57.

This, despite the fact that it released a statement saying that in 2010 it spent €536m on 28 acquisitions expected to boost full-year revenues by €800m.

Dealers blamed poor sentiment towards its sector in Europe for the performance. Construction-related stocks fell across the continent and the industry was one of the worst performing components of the Dow Jones Stoxx 600, the benchmark index that tracks leading stocks in 18 western European markets.

Shares in Irish and UK builders' merchant Grafton dipped 1% to close at €3.32.

Investor nervousness about the sector reflected their renewed fears about Europe's debt crisis, which mean most markets across the continent performed poorly.

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