US conditions sees CRH fall continue

CRH continued its downward trend with stock falling back to €15.80 as difficult trading conditions in the US continue to bite.

Elan saw its share price fall 27c to €4.30 from €4.57 after announcing yesterday that it planned to sell €85m ($100m) worth of products and assets to aaiPharma Inc.

According to analysts, if the deal is completed by November it will have minimal impact on 2003 losses (at $1.78 per share) but will increase 2004 and 2005 losses per share by up to 11% and 80% to $0.50 and $0.18 per share respectively.

Grafton Group saw a 23c fallback in its share price to €5.10. Earlier the Grafton-owned Woodies DIY chain announced further expansion plans over the next 12 months.

Ryanair shares fell 22c to €6.57 after chief executive Michael O’Leary said he believed that the EU Commission would seek to shorten its lease at Belgium's Charleroi airport.