Elan shares dropped sharply today after negative brokerage comments ahead of results due out next Monday. The market heavyweight dragged the ISEQ down 84 points to 5641 by close.
Fellow pharmaceutical stock Galen fared little better on the bullish market and dropped 55 cents to euro 13.89.
The other big loser of the day was CRH whose shares shed 42 cents to euro 17.80 on the back of ongoing uncertainty surrounding its proposed euro 350 million takeover over of Finnish company Addtek.
The move is being examined by the EU competition authority, raising fears the company’s acquisitions strategy may be hindered.
Among the financials, AIB was marginally off 13 cents on euro 11.92 and Bank of Ireland recovered yesterday’s losses to add 21 cents to euro 10.31. Irish Life and Permanent dropped 10 cents to euro 12.25.
Eircom shares continue to bask in the warm Vodafone glow ahead of a decision on the sale of its mobile subsidiary. Its stock reached a year-high of euro 2.65, a gain of five cents on the day.
Food stocks were mixed, with Glanbia ahead two cents to euro 0.57, Golden Vale up three cents on euro 0.79 and Greencore added four cents to close on euro 2.60. Kerry shed 27 cents to euro 12.42.
Ryanair added 30 cents on the back of strong trading in the stock on the US market last night and closed at 11.10.
:quality(70)/s3.amazonaws.com/arc-authors/irishtimes/64c7504b-f9dd-4cbf-ad7c-534bbb1857e7.png)