Massive boost for Irish shares

IRISH shares had a massive €1.326 billion boost yesterday as the new year’s trading opened with strong gains in the banking stocks, as well as for the troubled pharmaceutical firm, Elan.

The ISEQ started the day with a total value of just over 53.03 billion and closed the session at €54.36 billion.

Elan, which still has a major restructuring plan hanging over its head, got the year off to a positive start with some positive early trial results for its collaboration with Biogen on a drug to treat multiple sclerosis and Crohn’s disease.