ISEQ up as Elan surges ahead

The ISEQ index closed up 73.36 points at 5,449.45 at close of trading today.

Pharmaceutical company Elan Corporation continued its remarkable company, gaining 9% on news that its trial drug for treating multiple sclerosis, Antegren, has been fast-tracked for potential approval in the United States. It closed up €1.75 at €20.70.

The financials were also ahead. AIB gained 7c to close at €12.52. Bank of Ireland, meanwhile, was up 9c at €10.91.

Independent News & Media gained 2c to close on €1.95 as it was announced that Brian Hillery is to take over from Tony O'Reilly as chairman.