Elan losses put trading in red

THE ISEQ index remained in negative territory as Elan shares declined sharply. The Dublin Exchange closed down 57.24 points to 7946.16.

AIB rose 11c to €19.37 after reports it may sell and leaseback its Irish branch network. Bank of Ireland gave up 10c to €15.30, Anglo Irish shed 10c to €13.35 while Irish Life & Permanent jumped 30c to €19.30.

In construction, giant CRH lost 30c to €28.20 despite early gains. Grafton shares nudged upwards 5c to €10.76 while Kingspan dropped 20c to €12.36.

Elsewhere, pharmaceutical company Elan weighed heavily on the index following news that the FDA has extended its regulatory review of Tysabri by up to 90 days. Shares weakened by 98c to €11.20. Meanwhile Greencore added 5c to €3.80, C&C gave up 7c to €5.43 with Kerry Group climbing 15c to €19.75.