Ireland's benchmark stock index, the ISEQ Index, fell 0.66 per cent at 8.05 am.
The index of 64 companies traded on the Irish Stock Exchange fell 39.39 to 5,927.77.
Among the stocks in the index, five rose, nine fell and 50 were unchanged.
Declines in the ISEQ Index were led by Allied Irish Banks, CRH and DCC.
Bloomberg