Market report: Elan stock surges after Antegren annoucement

Business support services company DCC saw its share price fall five cent to €15.65 after the announcement this morning that profits to the end of September were up 21% over last year.

Before-tax profits were at €37.9m, up 21.4% from last year. DCC’s ongoing acquisition programme has resulted in a number of acquisitions at a total committed cost of €63.9m. The cash impact of acquisitions in the period was €36.6m.

Meanwhile, stocks in pharmaceutical company Elan leaped to €23.20 ( up €1.85) on the back of the company's announcement that trial results from their Multiple Sclerosis treatment Antegren have been positive, having reduced the rate of relapses by 66%.

All financial stocks were down. Anglo Irish Bank fell 10 cent to €15.70. Bank of Ireland fell four cent to €11 and AIB was down two cent to €13.85.