Corporate news reins in rising index

The Dublin market fell into negative territory for the first day in six, as profit takers hit Eircom and Elan. On a busy day for corporate news flow, the ISEQ index eased 21.54 points at 6597.38.

Following the release of third quarter results, Ireland's biggest phone company Eircom fell on concerns that the pace of sales of its broadband service is easing. With over 12.2 million shares traded, the company closed 3c lower at €1.96.

Elan dropped 49c following the publication of a robust set of full year results. The drug firm said it is still optimistic of returning to profitability by the end of 2006.