Elan drives market gains

THE ISEQ Index powered ahead yesterday led by strong gains in pharmaceutical company Elan. The benchmark index of Irish shares closed 110.59 stronger at 9,778.51.

In construction, CRH continued its recent good form climbing 29c to €34.75. Grafton jumped 11c to €11.77 while Kingspan was 4c higher at €21.24.

Elsewhere, shares in Elan soared by €2.17 to €13.87 after it confirmed it would conduct Phase 3 clinical trials of Alzheimer’s drug (AAB-001) in conjunction with partner Wyeth. Independent News & Media lost 2c to €3.64.