ISEQ down as Elan plummets

The ISEQ index of shares was down 13.07 points to 6,161.42 at 11am this morning as Elan suffered heavy losses.

The pharmaceutical giant shed 66c (3.27%) to €19.54 in early trading.

Meanwhile, there were mixed fortunes for the financials. On the up were Bank of Ireland and Irish Life & Permanent, which gained 10c and 3c to €12.13 and €13.58 respectively.

AIB was down 8c to €14.82, however, while Anglo Irish shed 3c to €17.87.

Meanwhile, Tullow Oil remained unchanged at €2.12 this morning as it announced that it has entered into agreements with Shell UK Limited and Esso Exploration and Production UK Limited to purchase their entire producing interests in the Schooner and Ketch gas fields and surrounding acreage.

The most traded shares on the Dublin market this morning were Ryanair, Bank of Ireland, CRH, Irish Life & Permanent and Grafton.