Financials and Food sector aids ISEQ's progress

Dublin's stock exchange continued its good progress from yesterday with a 34.91-point rise to stand at 5,738.88 by 11am this morning.

Food group Kerry led the way with a 22c increase to stand at €17.60 by mid-morning as a two-day event showcasing Irish food and drink products continued at Croke Park today.

The event, organised by Bord Bia, is aimed at boosting sales of Irish products on international markets.

More than 200 international buyers from Europe and the United States have been invited to attend the exposition, where more than 50 Irish firms are showing off their wares.

Other food companies benefitting in morning trading were Glanbia (up 3c) and IAWS (up 4c) to stand at €2.67 and €10.37 respectively.

Financials also contributed to the positive start in busy trading, Bank of Ireland gaining the most at 20c to stand at €11.54. Anglo Irish Bank rose 15c to €15.20, Alied Irish Bank went up 9c to €13.55 and Irish Life and Permanent increased its price by 5c to €12.95.

CRH's shares were also busy this morning, the building materials group showed a 14c rise to €19.95.

Another major riser was IFG, the financial services firm, who had a 10c rise to €1.05.

Pharmaceutical giant Elan had a fall in their share price of 17c to €19.65 despite the US Patent and Trademark Office issuing Neuralab Limited, a subsidiary of Elan, seven patents for the companies' joint research on immunotherapeutic approaches to the prevention and treatment of Alzheimer's disease.