ISEQ surges in mid-morning trading

The ISEQ today looks set to end a week of consecutive losses as shares have climbed 23.65 to stand at 5,857.51.

Financial shares have been buoyant. Anglo Irish Bank shares have climbed 7c to €9.32 while Allied Irish Bank shares have risen 5c to €15.90. Irish Life & Permanent has climbed 21c to €13.45. Bank of Ireland is unchanged.

Meanwhile Irish pharmaceutical company Elan today announced its first quarter 2005 financial results, with $74.7m (€57.8m) net operating losses for the quarter.

Despite this shares in the company have climbed 17c today to €3.48.

Independent News & Media shares have edged 3c higher to €2.38. INM today announced it has agreed to sell its shareholding in iTouch to For-side.com for €100m.

Gas and oil company Aminex is unchanged on the ISEQ at 15c. Aminex today announced a loss of $4.4m (€3.4m) for its preliminary results for 2004.

Other moves today included DCC, up 37c to €17.15 and Paddy Power, down 20c to €14.10.