Dublin Report : Shares prices on the Dublin market closed flat ahead ahead of the bank holiday weekend with dealers reporting good two-way trading as April draws to a close.
Elan was the star performer with the shares gaining 64 cent to end at €4.20, an 18 per cent increase.
The share strengthened on some positive sentiment towards it and in particular in the hope that its suspended multiple sclerosis drug, Tysabri, could ultimately return to the market. The stock also stormed ahead in the US yesterday on foot of renewed investor interest there.
In terms of corporate news, CRH chief executive, Liam O'Mahoney, indicated that business conditions for the company seemed to be improving in the US, but that the outlook for Europe had weakened slightly.
In an interview he said that although it was still early in the year to be making firm calls, it seemed the building materials and distribution group was also recouping higher energy prices more effectively than before.
CRH shares strengthened in Dublin during the session rising by 25 cent to end at €19.25.
Irish Continental Group held its annual general meeting and said trading had been tough in the first quarter of 2004. The stock shed 5 cent to €9.55 after the meeting.
The financials had a mixed day with AIB unchanged at €15.75 while Anglo Irish Bank was 20 cent lower at €8.95.
Bank of Ireland was 7 cent stronger at €11.72 while Irish Life & Permanent fell 10 cent to €12.95.
Most of the trading volumes were concentrated on the front line stocks.
Eircom was 2 cent weaker at €1.87 while C&C was one cent higher at €3.15.
Greencore climbed 15 cent to €3.20, IAWS was also 15 cent better at €11.15, while Jurys Doyle was unchanged at €12.25. Kerry was 6 cent stronger at €18.80 while Paddy Power was down 27 cent to €13.55.
Ryanair ended the week at €5.64, down 5 cent.
Settlement Day: May 5th
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