ISEQ buoyed as Elan, Paddy Power race ahead
The ISEQ in Dublin closed up 17 points to 5126 as Elan rocketed up to a two year high.
The pharmaceutical company closed up 75c to €15.15, continuing yesterday's strong ascent as buyers returned to the share following recent profit taking.
MBO target Barlo was newsworthy today, closing down 4c to €0.39, from an earlier session high of €0.43.
The group behind the MBO offer for the company said today it has received acceptances from shareholders representing just over 36% of the company and it has extended the offer until April 1. It needs 80% approval for the MBO to go ahead.
Paddy Power was a strong gainer today, closing up 32c to €8.75, fueled by growing optimism that this year's Cheltenham Festival in Britain will generate lucrative business for the group.
Hotel group Gresham recovered from a recent slump closing up 4c to €1.18. Iona was also in vogue closing up 10c to €6.10. Fyffes continued yesterday's surge, closing up 5c to €1.65.
McInerney continued to recover up 5c to €4.76, following news of extra house building projects in Britain .CRH was busy today up 5c to €16.60 with over 2.3m shares traded.
The banks were mainly down. AIB closed up 1c to €12.20 with 1.4m shares traded. Anglo was a faller down 15c to €12.75 and BOI closed down 1c to €10.45, having reached an earlier high of €10.59.
