ISEQ down as Elan slides

The ISEQ index of shares returned to negative territory today as it closed down 19.68 at 6276.66.

Elan's share price fell back 83c to €5.47 as it emerged that a fourth patient taking Tysabri, its multiple sclerosis drug, may have contracted a fatal brain disease.

Hotel group Jurys Doyle fell 50c to €15.60. 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 shares were up 5c to €6.62 as it was announced 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.