ISEQ rises on back of gains by Elan and Ryanair

The Dublin stock exchange had a positive morning as the index stood higher by 29 points to stand at 7,457 by 11am.

The major climbers were Elan, up 30c to €11.60, while Ryanair was 23c higher at €7.95 as the price of oil fell back from four month highs.

Shares in CPL added another 13c to €4.13 after yesterday's strong gains on the back of a 79% surge in half yearly pre-tax profits.

The financials were mainly positive with AIB up 10c to €18.02, and both Bank of Ireland and Irish Life and Permanent slightly up two cents to €13.82 and €17.10 respectively. However, Anglo Irish Bank fell seven cents to €12.60.

Elsewhere, food company Kerry Group also experienced a slump, down 10c to €18.