ISEQ slips on another tough day for Elan
The ISEQ slipped 2.33c to close today at 6,2575.95, on another tough day for pharmaceutical giant Elan.
Elan shares slipped 73c to €5.57 as the company continues to struggle since the withdrawal of the multiple sclerosis drug Tysabri following the death of a patient in the US who was being treated with a drug combination including Tysabri.
Financial shares fared better today. Shares in Allied Irish Bank climbed 5c to €16.30 while Bank of Ireland shares climbed 18c to €13.19.
Anglo Irish Bank shares climbed 22c to €20.32 while Irish Life & Permanent shares were unchanged at €14.85.
Shares in technology group Horizon rose 2c to €1.22 after the company announced an increase in gross profits of 13% to €32.7m in 2004, thanks in large part to the strength of their Irish operations.
Fruit distribution company Fyffes' announcement of a 32.2% jump in profits to €94.7m, before exceptional items and goodwill amortisation was not enough to stem a 4c fall to €2.21, although it did make up some of its losses later in the session.
Exploration and mining group Arcon said today that agreement has been reached in principle on the terms of a merger with Lundin Mining. The market responded this morning with a 2c fall in Arcon's share value to 55c.
The most traded shares today were CRH, AIB, Ryanair, Bank of Ireland and Grafton.
