Elan big mover as stocks fall

Elan Pharmaceuticals was the biggest mover of the day, adding 25.30% to 5.30. Elan said that it will file its annual report by tomorrow, beating a deadline that may have led to a default on as much as 2 billion in debt.

Fyffes reported half-year results in line with Elan big mover as stocks fall

THE ISEQ Index of Irish shares closed down yesterday, falling 20.15 points to 4590.11 points.

Elan Pharmaceuticals was the biggest mover of the day, adding 25.30% to 5.30. Elan said that it will file its annual report by tomorrow, beating a deadline that may have led to a default on as much as 2 billion in debt.

Fyffes reported half-year results in line with expectations. The fruit importer dropped 2.68% to 1.45 after it announced that hot weather since late July, effecting consumption and margins, will cost 8 million in Q3.

Financial shares performed poorly. Allied Irish Bank and Bank of Ireland fell marginally, slipping 0.79% and 1.4% to 12.50 and 10.55 respectively.