Quiet start for ISEQ

The ISEQ started the day quietly as shares fell slightly by 6.37 points to 6,039.58 by 11am.

Financials were mixed with Irish Life and Permanent recording a 20c fall to stand at €13.30 by 11am. AIB was also a faller, seeing their stock go down 2c to €14.36. Anglo Irish Bank and Bank of Ireland both saw their share prices rise slightly by two cent and one cent respectively up to €16.07 and €11.49.

The biggest riser so far is pharmaceutical firm Elan who today announced that Elan Finance plc and Elan Finance Corp have completed an offering of $1.15bn (€880m) of senior notes. Their stock has responded with a 20c rise up to €23.20.

Low-cost airline, Ryanair, has seen its share price go down 3c to €4.87. Their chief executive, Michael O'Leary, today criticised the Government's inaction over the development of a second terminal at Dublin Airport.

Speaking today at the First Annual Forum of the Tourism Industry, Mr O'Leary endorsed the recent criticism of the present Government as a "fudge factory".

Other fallers this morning are CRH, down 17c to €19.30, and Shipping group Irish Continental, down 10c to €11.40.