ISEQ trading up 12% from start of year

The value of shares traded on The Irish Stock Exchange has risen 11% to €58.5bn for the first nine months of the year.

Average daily equity turnover was €308m with ISE quoted companies raising €459m through share issues alone.

Information management company ICON were the biggest gainers in the market over the last three months with the ISEQ gaining 12% overall from its 2002 level.

In today’s trading Elan rose 7c closing at €4.95 following persistent rumors of a takeover bid.

Last week the pharmaceutical firm signed a licencing agreement with Bristol Myers Squibb.

Analysts believe that the announcement has much wider implications for the Athlone-based company.

Another pharmaceutical company Galen saw its stock go south today finishing trading 24c down at €9.40.