Ryanair share price falls after Charleroi decision

Ryanair saw its share price dip 25c to €6.58 on Wednesday.

Earlier its chief executive Michael O’Leary said he believed that a draft report by the European

Commission would find aspects of its Charleroi, Brussels arrangement unlawful.

The low fares airline immediately indicated that it would appeal any such decision to the European Court of Justice and may be forced to transfer its Charleroi service in the interim.

Analysts have taken the view that Ryanair needs to be careful and focus on private channels.

'Gunboat diplomacy’ is inappropriate, they cautioned.

DCC lost ground also down 32c to €10.65 while CRH fell back 11c to €15.65.

Pharmaceutical firm Elan reported Q3 revenues down 47% to $174. Analysts said the results were no surprise and broadly in line with forecasts.

They also expressed the view that the company can be evaluated as a ‘pure play’ Biotech company.