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Bloomberg
Irish stocks slid on Monday after polls put Sinn Fein in place for a possible role in government, fuelling declines in banks and property shares given that the party’s policies include a wealth tax and a freeze on residential rents.
The benchmark ISEQ Index slid as much as 1.4%, with Bank of Ireland Group Plc and AIB Group Plc falling as much as 7.8% and 6%, respectively. Among real estate stocks, Irish Residential Properties REIT Plc slid as much as 8.3%, the most since June 2016, while Glenveagh Properties Plc fell 7% and Cairn Homes Plc dropped as much as 6.2%.
Polls indicate that no party won a majority in election after a surge in support for Sinn Fein, whose economic policies are more left-wing than those of Ireland’s other political parties.