ISEQ up, BoI on shaky ground

The ISEQ index of Irish shares is up 31.42 points this morning to 8921.49.

Listed pharmaceutical company United Drug has reported pre-tax profits of €55.2m for the year ending September 2006, up 14% from the previous year and slightly ahead of forecasts.

The news has failed to effect the company's shares today as they dropped 12c to €3.65.

Elsewhere Bank of Ireland is on shaky ground awaiting a solution on the pension dispute with Amicus. Officials from the trade union today are due at the Labour Relations Commission this morning where they holding talks aimed at finding a way forward in the row over pensions at Bank of Ireland.

However, the uncertainty has continued to dampen interest as the bank's shares dropped by 11c to €16.37. Anglo Irish Bank climbed 5c to €14.45, IL&P soared by 20c to €20.10 while AIB leaped 18c to €22.04.