Elan, CRH nudge ISEQ into the black

EUROPEAN bourses were mainly positive yesterday and the ISEQ index managed to nudge ahead 7.82 points to close at 5281.43.

The financial sector was weaker, losing 14.95 points on the day. Allied Irish Bank, which saw just over 1.8 million shares traded, gave up 6c to close at €13.47 while Bank of Ireland, which bought back a further 100,000 shares on Tuesday at €11.64 per share, gained 1c to €11.65.

Construction giant CRH was one of the main movers of the day, rising 17c to €17.38. Heiton Holdings shed 10c to €4.65, while McInerney remained steady at €5.20.

Elan strengthened 17c to €6.95, after Inex Pharmaceuticals said they would be making a $3 million cash payment to Elan as part of an agreement to commercialise its cancer treatment product.