ISEQ up in morning trade

Shares at eircom fell 7c to €1.84 this morning, after the company released preliminary results which showed a 2% fall in revenues. Underlying profitability was up, however, thanks to a cost-cutting plan.

Pre-tax profits of €52m for the year to the end of March, compared with an €89m loss in the previous year.

Shares at pharmaceutical giant Elan rose to €6.42 today (up 22c).

Builder Abbey plc saw the biggest rise so far this morning, up 25c to €9.14.

In the financials, AIB rose 3c to €16.83, Bank of Ireland fell 5c to €12.47 and Anglo Irish Bank was level at €9.75. Irish Life and Permanent rose 3c to €13.55.

The ISEQ as a whole was up 12.21 points to 6238.57 in morning trade.