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Mar 20 2020, 08:10 GMT
While sharp negative price action is not particularly unusual in the current environment, and especially for banks, yesterday’s (March 19th) weak relative move seems unjustified. AIB finished the day down 24% — now 83% below its IPO price — but at odds with the European banking sector, which rose 2.7%, buoyed by exceptional ECB action with its €750m Pandemic Emergency Purchase Programme announcement. The movement also contrasts with a 4.4% decline from Bank of Ireland Group and with permanent tsb Group unchanged on the day.