ISEQ up as Elan confidence drops

The ISEQ gained 18.39 points this morning to stand at 8512.86 at 10.30am.

Glassmaker South Wharf was the most dramatic faller, down 30c (3.7%) to €7.70.

Elan lost 30c (2.4%) to €12.00, after a survey in the US found that doctors are wary of prescribing the company’s multiple sclerosis drug Tysabri.

Allied Irish Bank gained 46c (2.2%) to €21.14. Irish Life and Permanent fell 15c to €18.80.

Anglo Irish Bank dropped 2c to €13.90. Bank of Ireland was up 1c at €15.61. Its business-banking arm today said that 15,161 new companies have been formed in the year to date.

McInerney slipped 20c (1.5%) to €13.30, while CRH, the morning’s busiest share, was down 5c at €27.25.

C&C was up 14c (1.1%) at €12.49. Kerry Group fell 5c to €18.80.