ISEQ ends week on a high as Heiton shares rocket

The ISEQ finished the week on a high today, climbing more than 21 points to end the day on 5341.51.

It was an eventful day for shareholders in Heiton Holdings, as shares leaped €1.40 to €6.70. This follows a rejection of a bid for Heiton from Grafton Group.

Grafton offered €6.35 per ordinary share. The offer is the third proposal that has been communicated by Grafton to Heiton in recent weeks.

Heiton chief executive Leo Martin said today Grafton would need to considerably increase their offer. Shares in Grafton slipped 5c to €6.45 today.

Building group CRH saw shares slip 20c to €17.29.

Meanwhile there was little movement among the financials. AIB slipped 1c to €12.25 while Bank of Ireland crept up 4c to €10.71.

Shares in Anglo Irish Bank rose 1c to €13.15, although the day was less encouraging for Irish Life & Permanent, which slipped 17c to €12.55.

Pharmaceutical group Elan ended the week on a strong note, with shares climbing 65c to €18.75. Elan held its AGM yesterday and announced appointments to key positions.

Shares in food and agribusiness giant IAWS climbed 25c to €10 today. IAWS bought midland food group Carroll Cuisine last week.