The Irish Stock Exchange (ISE) closed at noon on Thursday following warnings from the Government over the severe weather.
In a statement, the ISE said the decision was taken due to warnings from the Government’s National Emergency Coordination Committee and Met Eireann in relation to the “severe weather-related nationwide status red warning”.
The ISE also said the move was designed to “protect against any potential risk to market integrity in these exceptional circumstances”.
The market will remain closed on Friday but is expected to reopen as normal on Monday.
An analyst with Davy Stockbrokers said the move was “unexpected” as many of the companies listed on the ISE are also listed on the London Stock Exchange.
“It was an unexpected close,” he said. “A lot of the Irish stocks are dual-listed so there will still be trading in the likes of CRH, Ryanair and all of those stocks that trade on the London Stock Exchange.
“We are open for business. It’s comparable to an Irish bank holiday where the Irish market is closed but European and London exchanges are open.”Tags: Business, Irish Stock Exchange, London Stock Exchange, Markets, Met Éireann, National Emergency Coordination Committee