Market claws back losses

THE Irish market reversed its Tuesday decline by adding 8.43 points to close at 6016.90.

A rise of 4% in value was seen by Anglo Irish Bank advancing the share price to €16.42, up 74c. Profits reportedly soared by 40% for the year to September, another record set of results. AIB remain resilient at €14.60, adding 3c with over 1 million shares traded. Bank of Ireland climbed 5c to €11.66 while Irish Life & Permanent moved 5c to €13.30.

The main news focus was on Irish Drug maker Elan, which said the much-anticipated news of the approval of the MS drug had gone through as per the FDA. Shares reacted well in the latter stages of trading to end at €21.55.