ISEQ down as more bad news crushes Elan

The ISEQ index closed down 61.21 points at 5984.88 this evening.

Pharmaceutical company Elan plummeted €3.10 (56.4%) to €2.40 on news that a third patient using its Tysabri drug had died.

Glass company South Wharf closed down 24c (8.8%) at €2.50.

All-Island energy group Viridian announced it is to sell IT subsidiary SX3 to UK company Northgate Information Solutions for £155m (€225.6m). Its share price increased 41c (3.9%) to finish the day at €11.01.

Ryanair’s shares increased 14c (2.4%) to €6.05. Today, Michael O’Leary hit out at the decision of the Dublin Airport Authority to increase car-parking charges at the airport by 50%.

Anglo Irish Bank was the day’s top-traded share. Its price was up 42c (2.2%) at €19.32 at the end of the day, following news that it plans to buy British property firm Ashtenne with UK property company Warner Estate for £169.7m (€247.1m).

Irish Life and Permanent dropped 10c to €13.75. Bank of Ireland was up 8c at €12.20. BoI today announced that errors were made on 130,000 transactions yesterday evening, due to a technical problem.

AIB closed up 4c at €16.12.

Food group IAWS closed down 21c (1.8%) at €11.67, while rival Kerry was up 22c (1.2%) at €18.55.

Construction company Kingspan closed down 4c at €9.24, following today’s announcement that the company has negotiated $200m (€154m) through a private placement of debt with a group of US investors.

CRH closed up 2c at €20.22.