Elan shows the way as financials fall flat

Following the quiet of the previous day's trading, when the London and New York markets were closed, the Irish Stock Exchange…

Following the quiet of the previous day's trading, when the London and New York markets were closed, the Irish Stock Exchange put in a solid day yesterday, with the ISEQ gaining 1 per cent to close at 6,288.45, up 61.97.

The rise was almost entirely accounted for by movement in the pharmaceutical stock Elan, whose weighting accounts for nearly a quarter of the ISEQ Index. It jumped #2.85 to #67.85.

CRH regained some of the ground it lost following some profit-taking last week. Reasonable international interest in the stock helped it to close 28 cents stronger at #20.18.

Financials were relatively flat on a day when decent volumes were traded. AIB was one cent stronger at #12.95, with nearly 360,000 shares changing hands. Bank of Ireland was up five cents to #11.55, with almost 1,500,000 shares traded. Anglo Irish Bank, which saw more than two million shares traded, finished the day at #4.23, a fall of two cents on the day.

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Jurys continues to suffer following its ejection from the Morgan Stanley Index, losing 30 cents to close the day at #9.10.

Despite the various bids for Eircom, the telecoms group lost the two-cent gain it made on the previous day. It ended the day at #1.16.

Enjoying good runs yesterday were Green Property, which picked up 18 cents to #7.43; IFG Group, which was 13 cents stronger at #3.50; and Riverdeep, which rose 20 cents to #5.30.