ISEQ off to a flying start

The ISEQ index has made a strong start to 2005 as shares surged 107.42 today to 6,305.25.

Shares in pharmaceutical giant Elan have surged almost 7%, up €1.35 to €20.70.

The financial stocks have fared well today. Allied Irish Bank shares were up 10c to €18, while Bank of Ireland stocks climbed 6c to €12.31.

Anglo Irish Bank shares increased 36c to €18.26. After early losses, Irish Life & Permanent added 14c to €13.94.

Meanwhile, building materials giant CRH has seen shares climb 18c to €19.88 today. CRH is due to issue a trading update for the 12 months to end of December tomorrow.

Building giant Kingspan Group closed up 6c at €7.11 after it announced a settlement agreement in the company's dispute with US flooring group Tate Global Corporation.

The dispute with Tate dates back to January 2001.

The settlement includes a $36m reduction to the purchase price of the stock of Tate Global Corporation purchased by Kingspan.

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