Ryanair, Elan cheer ISEQ

The ISEQ was up 13.41 points mid-morning at 6688.28.

C&C dropped 15c (4.8%) to €2.99 on announcing that it expects turnover increase of just 4% when it releases its first full-year results as a publicly-quoted company in May.

Ryanair was the morning’s busiest share, on the news that the airline will buy 140 new aircraft and hopes to create 2,500 new jobs. Its share price rose 26c (4.2%) to €6.40.

Elan increased 20c to €20.45.

The financials had a mixed morning. Anglo Irish Bank fell 14c to €20.11 and Bank of Ireland was down 12c at €12.65. However, AIB managed to climb 10c to €16.20 while Irish Life and Permanent found itself up 5c at €14.85 mid-morning.

CRH dropped 10c to €21.03. Construction company McInerney Holdings fared better, up 2c to €8.10 on announcing an increase in pre-tax profits of 43% for the year ended December 31, 2004.

Paddy Power was down 5c at €12.80. The bookmaking giant announced odds for its Oscar favourites this morning. For the first time, it is taking bets on the designer of the Best Actress’ dress!

All-island energy group Viridian was unchanged at €10.84. Desmond Smyth is to retire as a non-executive director of the company.