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And now, presenting Ireland's largest financial stock: Paddy Power
The stock market value of the bookie is now larger than that of any of the main Irish banks.
Reproduced with permission from Business Insider.
It’s Paddy Power, Ireland’s largest online betting site.
Yesterday, Reuters’ Peter Thal Larsen made the observation that with a €1.4 billion market capitalisation, it was officially Ireland’s biggest financial, though at the time it appeared that the Bank of Ireland might still be valued slightly higher.
However now it’s clear, as Irish bank stocks are getting crushed on nationalisation talks.
Allied Irish is down 15% right now, and has a market cap of €302 million, according to Bloomberg. Bank of Ireland is down about the same, and has a market cap of €1.35 billion.
That a gambling site is Ireland’s biggest financial is obviously perfect.
Reproduced with permission from BusinessInsider.com.
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