ISEQ falls 21 points in difficult trading
The Irish index of shares has experienced a slight fall in trading with the Dublin Stock Exchange going down 21.59 points by 11.45am this morning.
The index stands at 2,619.89 in a generally negative mood which has seen Tullow Oil slump by 76c to €7.64 despite announcing this morning that they had discovered more oil in Uganda.
The banks haven't helped the current trend with Irish Life and Permanent falling 23c to €2.45 and AIB down one cent to €2.15. Anglo was slightly positive after a two cent increase to €0.34c while Bank of Ireland remained steady on €0.94c.
Pharmaceutical giant Elan have seen their shares climb 40c to €6.35 after announcing this morning that it has engaged Citigroup to conduct "a review of the company's strategic alternatives" in order to secure enough financial resources and commercial infrastructure to allow Elan to develop its portfolio.
Despite revealing healthy financial returns for 2008, food group Glanbia has seen its share price tumble 23c to €2.65. This morning the company said its earnings per share increased by 17% during the year. Rival food group Kerry also saw a downturn in its share price, down 24c to €14.77.
The construction sector didn't escape the gloom either as CRH collapsed by 44c to €18.45, Kingspan fell 15c to €2.99 and Grafton Group decreased by 10c to €2.23.
