ISEQ breaks 7600 barrier
Elan stocks led the charge today as the ISEQ index of shares closed up 45.03 points at 7607.4.
Elan saw a 30c surge today to €12.85. 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.
It was also a good day for the financials. Anglo Irish was up 17c to €13.16, while Irish Life & Permanent rose 15c to €17.70. Bank of Ireland made a modest 3c gain to €14.15, while AIB was unchanged at €18.50.
Building materials group CRH rose 41c to €25.91. There were also gains among the other construction companies with Kingspan rising 20c to €11.50 and McInerney up 3c to €11.70.
