Iseq claws back morning's losses

Dublin's Iseq managed to rally today among some big gains.

The index was up 30.28 points to 5640.61.

The financials regained lost ground from this morning to leave the sector in positive ground by the end of trading. Anglo Irish Bank was the biggest riser in the sector as their stock rose 31c to €15.06. Irish Life and Permanent was next with a 13 cent rise to stand at €13.13. AIB was up 5 cent to €13.55, while Bank of Ireland was up five cent to €10.90.

Northern Ireland-based pharmaceuticals group Warner Chilcott saw stock surge 54 cent to €11.78 after the company, formerly known as Galen, revealed a second approach from an unnamed company after a similar announcement yesterday in relation to a consortium of private equity houses. Armagh-based Warner Chilcott has opened its books to both. Rivals Elan had a more modest seven-cent rise to finish at €18.97 while United Drug had a more succesful day with a 14-cent increase to €3.26.

Business support services company, DCC, also saw their stock rise considerably with a 27c rise to leave them at €15.02 for the day.

Food group IAWS, also had adouble-digit rise for the day, their stock going up 20c to €10.20.

Builder Grafton stock fell five cent to €2.76 after the company announced that almost 54% of Heiton share owners had accepted Grafton's €336m bid for the company by the first closing date yesterday. Heiton's stock stayed level at €6.75 after the news.

Among the companies with negative results were Viridian and Readymix who saw their share prices fall by 10c and 9c to leave them both at €9 and €1.71 respectively.