Elan stock up on news of MS tests

The Iseq index of Irish shares closed at 5123.18 up 76.27 points.

Pharmaceutical stock was busy with Elan Pharmaceuticals the biggest mover, up 140c to €8.30.

The company indicated yesterday that Antergren - its treatment of Multiple Sclerosis - could be on the market in early 2005, a full year ahead of projections.

Analysts have said that this is highly unprecedented but reflects the compelling nature of the data half way into the trial.

Trinity Biotech remained static at €3.60.

Mixed 2003 results were offset by the company's plans to build up it US salesforce.

Irish Continental Group hovered on the €12.10 mark.

Some form of industrial action looms on the horizon as the company tries to improve work practices.

Yesterday it announced that it may be forced to put 600 jobs at risk by halting three out of four services if agreement cannot be reached with the Seamans' Union of Ireland and SIPTU on new efficiencies.

Datalex remained on 0.62c after the appointment yesterday of Cormac Whelan as Chief Operating Officer.

Financials saw AIB up 9c to €13.31, while Anglo Irish continued its downward trend, down 10c to €12.78. Bank of Ireland was up 14c to €11.13.