Quinn's trading in Barlo lifts ISEQ volume

The ISEQ recovered from yesterday's losses moving up 43 to 5117 with decent gains in Elan, CRH and Anglo.

Radiator and plastics group Barlo gained 3c to €0.48 after the Quinn Group launched an offer for the company at that price.

The company was the most traded share on the ISEQ with 23.4 million shares traded overall after Sean Quinn upped his stake to 27.55% with the further purchase of 22 million shares this evening.

Anglo recovered form yesterday's demise, gaining 18c to €12.54. It is thought a trading update is in the pipeline. Bank of Ireland moved up 10 to €10.25. The bank is announcing its pre-close update on Thursday.

Elan was strong today, recovering form yesterday's profit taking induced falls with 1.6 million shares traded. The pharmaceutical company announced plans today to submit its Antegren drug for approval by European regulators this summer

Ryanair was in flying form up 25c to €4.52, with over two million shares traded.

Kerry group was down 10c to €14.75 after announcing the purchase of two US beverage companies. Eircom was still a good bit off its €1.55 flotation level, closing up 1c to €1.48. Formal trading in the stock begins tomorrow on the Dublin and London stock exchanges.

Independent News and Media dropped 2c to €2.02 in advance of tomorrow's full-year numbers.

Recruitment company CPL shed 10c to €4.55 after announcing the acquisition of rival recruitment company Medical Personnel.

Elsewhere Iona slipped 48c to €5.72 and CRH was busy up 13 to €16.63 as investors eyed up yesterday's acquisition of 49% of Portuguese Secil.