Market slips despite Elan boost

THE Irish exchange closed in negative territory despite a strong price increase from Elan.

The ISEQ closed 89 points lower at 7,931 as the financials lagged.

AIB dropped 52c to €16.63. Bank of Ireland was 41c worse off at €12.34. Anglo and Irish Life and Permanent fell 60c and 68c to €12.30 and €15.40.

Construction giant CRH finished 36c weaker at €27.34. Kingspan dipped 35c to €16.65. Grafton Group gained 11c to €8.44.

Pharmaceutical company Elan jumped €1.05 to €16.85 as its Tysabri partner Biogen is considering expressions of interest from third parties to acquire the company.