ISEQ falls as Elan crashes again

The ISEQ index was down 10.68 points mid-morning at 6285.66.

It was another bad morning for Elan, as a report said that a fourth patient taking Tysabri, its multiple sclerosis drug, may have contracted a fatal brain disease. Shares in Elan fell €1.00 (15.9%) to €5.30.

Hotel group Jurys Doyle fell 25c (1.6%) to €15.75. The board received a new takeover offer from Precinct Investments last night.

Construction group Grafton was another heavy faller, down 14c (1.5%) at €9.15. CRH was steady at €21.00.

Ryanair was the morning’s busiest share, but stayed at €6.57. The airline’s total number of passengers for May 2005 was up more than 700,000 on the figure for the same month last year.

The financials performed better than most. AIB was up 14c at €17.14, while Bank of Ireland gained 8c to €12.63.

Meanwhile, Irish Life and Permanent was unchanged at €13.70 and Anglo Irish Bank was also steady at €9.70.