ISEQ down as Elan rallies

The ISEQ index was down 15.31 points mid-morning at 6141.19.

Elan was up 40c (7.1%) at €6.05. The vice-president of partner company Biogen, Thomas Bucknum, resigned last night.

Eircom dropped 5c (2.4%) to €2.00.

CRH was 18c in the red this morning, its share price at €20.40.

It was a good morning for FBD. The insurance group was the busiest share on the index, and its price was up 10c to €21.00.

The financials didn’t fare so well, with Anglo Irish Bank down 10c to €19.90, and AIB down 9c to €15.81. AIB announced this morning that it has appointed M&T Bank’s Eugene Sheehy to take over as chief executive on Michael Buckley’s retirement.

Bank of Ireland dropped 9c to €12.82, while Irish Life & Permanent was unchanged at €14.50.

Ryanair slipped 4c this morning to stand at €5.88 at 10.30am.

Glanbia announced changes to its board to come into effect in June. Its shares were trading at the unchanged price of €2.90.

Mining group Kenmare Resources was also steady, at €0.10, despite the news that the group won a ‘deal of the year’ award at London’s Project Finance magazine awards last night.