(Bloomberg) -- Ireland’s benchmark ISEQ Index fell as much as 1.4% at the open on Monday after polls put Sinn Fein in place for a possible role in government.
Banking and property stocks led declines, with Bank of Ireland Group PLC (IR:BIRG) and AIB Group PLC (IR:AIBG) falling as much as 7.8% and 6%, respectively. Irish Residential Properties REIT Plc slid as much as 8.3%, while Glenveagh Properties PLC (IR:GLV) fell 7%. Shares of Cairn Homes PLC (IR:CRN) dropped as much as 3.4%.
Opposition party Fianna Fail is currently projected to get the most seats at 45, with Sinn Fein projected to win 37 and the incumbent Fine Gail 36 -- all a long way short of the 80 needed for a majority. Sinn Fein’s economic policies are more left-wing, including a wealth tax, a freeze on residential rents, a public housing program and lowering the retirement age.
