IFG down as Woodchester joint venture sealed

Financial services group IFG has announced it is to sell 50% of its IFG Mortgages operation to GE Capital Woodchester for €13.3m.

Shares in IFG fell 17c to €1.08. It will now be run as a joint venture.

Allied Irish Bank was up 11c to €12.40 while Anglo-Irish was down 5c to €10.15. Bank of Ireland was also down 5c to €10.50.

Cement Road Holdings rose after two days of declines closing at €15.40 up 13c.

Pharmaceutical company Elan slipped 5c to €4.30 after announcing it has raised a further $173m (€151m) through a share offering.