The Dublin market took a tumble today on foot of announcements from Readymix and DCC that profits would be less than expected.
At 3.50pm the ISEQ index of Irish shares was down 234.74 points to 6674.40, a fall of 3.6 per cent.
Concrete group Readymix issued a profit warning this morning, saying that although year end results had not been finalised, operating profit would be "substantially below" market expectations and profits achieved in 2006.
Shares in the company fell 12 cent (7.8 per cent) in trading this afternoon.
Meanwhile, shares in business services group DCC were down 113 cent (5 per cent) after the company announced that a weaker sterling/euro exchange rate would reduce its operating profit by approximately €3 million.
Banks fared little better with shares in both Bank of Ireland and AIB down 40 cent in afternoon trading. Anglo Irish Bank slipped by 61 cent.
Elsewhere, CRH plunged 182 cent and shares at bookmaker Paddy Power were down 75 cent.
In contrast, shares in Ryanair were up 3 cent this afternoon despite the airline announcing a 27 per cent drop in third-quarter net profit yesterday.