ISEQ bucks trend with slight rise

EUROPEAN markets were mainly in the red yesterday, the Irish index bucked this negative trend and closed 6.25 points higher at 5418.12.

Abbey strengthened 45c to €8.85, after British housebuilder Barratt said it expects to report profit before tax ahead of market expectations. CRH added 7c while Kingspan slipped 2c to €4.87.

Financial stocks were all stronger. AIB gained 6c to €12.31, while Anglo Irish Bank closed 22c firmer at €12.70. At its AGM yesterday Bank of Ireland said business in Ireland has performed strongly in the first quarter. The stock advanced 14c to €10.58. Elan announced it has completed the sale of its worldwide rights to Myobloc, for an undisclosed sum to Solstice Neurosciences Inc. It closed 2c lighter at €20.40.