Market Update: Iona and Elan drive weak market

The main financials proved relatively weak today on the Dublin market in tandem with their European counterparts

The main financials proved relatively weak today on the Dublin market in tandem with their European counterparts. AIB closed the day at euro 12.80, down 13 cents. After being down early Bank of Ireland managed to rally to close the day unchanged at euro 10.00.

Despite this the overall ISEQ index of shares closed marginally ahead today, up 4 points at 5651, driven in most part by heavyweights Elan and Iona.

Elan rose 25 cents to 52.75 on the strength of positive news surrounding one of its products. Iona closed the day at euro 68.00, up 90 cents.

Jurys closed the day 30 cents down at euro 9.50. Ryanair was down 15 cents at 10.65 with Smurfit also down 2 cents at euro 2.06. Galen were up 50 cents to euro 13.00.

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Eircom closed unchanged euro 2.46 after being down early in the day.