ISEQ closes in positive territory in election wake

The ISEQ index surged today, following the trend of markets across Europe buoyed by the relief with the end of the US presidential race.

The ISEQ closed the day at 5,825.20, up 46.70.

Shares in Allied Irish Bank slipped 1c to €13.77 but shares in Bank of Ireland climbed up 15c to €15.35.

Anglo-Irish Bank jumped 30c to €15.35 and Irish Life & Permanent shares climbed 25c to €13.50.

Elsewhere there was a lot of movement among Irish pharmaceutical shares. Shares in Athlone-based Elan climbed 24c today to close at €21.19.

This followed the announcement legal eagle Richard C Collier would be joining the company as executive vice-president and general counsel at the end of the month.

Shares in Craigavon-based Warner Chilcott, formerly known as Galen, fell back 22c to €12.26 at close of trading today after it emerged the two rival bidders for the group were to join forces.

The private equity arms of Credit Suisse First Boston and JP Morgan have agreed for Bain Capital and Thomas H Lee to join the Waren Acquisition consortium in their bid to buy Warner Chilcott for £1.62bn (€2.34bn).

Meanwhile shares in building materials giant CRH closed the day in positive territory, up 29c to €19.16.

Shares in Ryanair closed up 2c to €21.19.

The most traded shares were Ryanair, Bank of Ireland, Anglo-Irish Bank, Irish Life & Permanent and CRH.