Ireland's benchmark stock index, the Iseq index, fell 1.59 per cent at 8.05am.
The index of 62 companies traded on the Irish Stock Exchange fell 73.40 to 4,545.80. Among the stocks in the index, 3 rose, 11 fell and 49 were unchanged.
Declines in the index were led by Elan Corp, Allied Irish Banks and Bank of Ireland.
Bloomberg