Iseq up as Elan powers ahead

The Iseq index of Irish shares was up 11.33 points to 5192.20 in early-morning trade.

Shares in Greencore were up 4c to €3.00. Earlier, the food group saw half-yearly profits dip 3% to March 26. Turnover was €743.819m, an increase of 4.2% on the year.

Chief executive David Dilger said that Greencore's results in the second half of the year will reflect price increases and the key cost challenges the company has met.

Meanwhile, Ryanair has launched its appeal to the European Court of First Instance over its Charleroi, Brussels hub. The low-fares airline traded at €4.50, down 3c this morning.

Elan saw its share price rocket 33c to €18.30 after announcing it had submitted data on its trial MS drug Antegren to the US Food and Drug Administration (FDA).

Financials saw AIB up 1c to €11.80, BOI down 2c to €9.91 and Anglo Irish down 10c to €12.90.