Anglo-Irish still powers ahead - market report

Anglo-Irish continued to power ahead on the Irish Stock Exchange on Wednesday closing at €10.40.

The bank now has a market capitilisation of more than €3.4bn and is still rated as a ‘buy’ with analysts.

Ryanair was up 10c to €6.90 on the news that it had secured formal recognition from the German government and the International Air Transport Association (IATA) that its flights into Niederrhein Airport serve the Dusseldorf metropolitan area.

The airline also expressed confidence that other challenges to its flights to Denamark and France would be overcome.

Elan stock fell 4c to €4.51. The company had earlier announced that it was to sell four main products and related assets to aaiPharma Inc for $100m (€85m).

Meanwhile CRH saw its stock drop 24c to €16.08. Difficult trading conditions in the US are thought to be a factor.