Elan main focus for market retreat

A MIXED day for Irish equities saw the ISEQ index slip 38.18 points to 4356.27.

Main focus was on Elan and Ryanair. Elan fell 24.81% to 4.00 following news that Antegren, one of the company's biggest product developments, failed to meet expectations for the treatment of Crohn's disease. The stock was trading $1.69 lower on the US market at lunchtime.

Meanwhile despite a French court ruling on Thursday morning, that aid granted to Ryanair by a local chamber of commerce to establish a service between Strasbourg and London was illegal, the stock gained 5c to 5.85.

Elsewhere CRH gained 5c to 15.40 while Kerry Group was 5c firmer at 14.00.