The ISEQ fell 36.68 points to stand at 7177.65 at 10.30am today.
Tullow Oil was the biggest faller, following disappointing drilling off the coasts of Mauritania and Angola. Its share-price fell 19c (4.7%) to €3.82.
Paddy Power had a much better morning on the index, gaining 38c (3.2%) to €12.35.
Bank of Ireland slipped 16c (1.2%) to €13.26. The bank announced this morning that it has acquired 71.5% of an American hedge-fund manager.
Irish Life and Permanent fell 18c (1.1%) to €15.95. Allied Irish Bank was down 13c at €17.77, while Anglo Irish Bank gained 6c to €12.21.
Food-and-beverage group C&C was up 6c (1.1%) at €5.51.
CRH, the morning’s busiest share, lost 12c to €24.30.
Ryanair was down 3c at €7.78, following news that the airline would be forced to carry fewer passengers in January, February and March due to the late delivery of ordered aircraft.