Elan surge boosts ISEQ
The ISEQ index of Irish shares is having a morning in the black today, up 34.57 points to 7596.94.
It has been a mixed morning for the financials. Bank of Ireland and Anglo Irish Bank were each up 3c, to €14.15 and €13.02 respectively.
Allied Irish Bank fell 4c to €18.46 while Irish Life and Permanent fell 5c to €17.50.
Building materials group CRH rose 31c to €25.81.
Elan saw a 40c surge this morning to €12.95. The rise follows a strong set of results yesterday with fully diluted losses per share 26.5% less than forecast at $0.14, from revenue 12.4% ahead of expectations at $140.4m (€116m).
A drugs advisory panel meeting in the US on March 7 is pivotal to Elan's fortunes as it will give the market very clear visibility on MS drug Tysabri’s potential on return to the market.
