Trading light as Jurys keeps everyone guessing

Market Report: The Dublin market ended the day up slightly at 6334.57 after a lack of corporate news failed to give it much momentum. Volumes were light.

Jurys Doyle, described by dealers as the news story of the week and one to "keep your eye on going forward" dropped 15 cent to end the day at €14.95 in the absence of any further news.

Moving in the other direction, Anglo Irish closed up 21 cent, or 2.1 per cent, at €10.18 on strong volumes. Speculation the bank may play a large part in the financing of a deal for Jurys should a takeover go ahead was driving the stock, dealers said.

Volumes were light in the other financials, with Bank of Ireland rising six cent to €12.88. Allied Irish unchanged at €16.90 and Irish Life & Permanent 15 cent stronger at the end of the day on €13.75.

In other news, Elan rose 38 cent, or 7 per cent of the stock's value, to close at €5.81. A report in the New England Journal of Medicine released on Thursday evening said that, while Elan's suspended multiple sclerosis drug Tysabri probably led to the brain infection that killed two patients, it remains to be seen whether, if carefully monitored, the drug could still provide a benefit.

Tullow Oil gained nine cent, or 3.5 per cent, to close at €2.65. One dealer said the company was benefiting as the hurricane season in the Gulf encroaches.

News that United Drug had bought Swindon, England-based TD Packaging for as much as £11.4 million did nothing to affect the share price. The stock ended the day unchanged at €3.47.

IWP International was also unchanged at eight cent after the toiletries company said its chief executive Jim Murphy would resign once a replacement has been found because he does not wish to relocate to Skelmersdale in the UK. The company in March announced plans to move its head office out of Dublin. Elsewhere, CRH gained 12 cent to close at €21.10, while the ISEQ ETF added 10 cent to end the day at €12.86.

Settlement Day: June 15th.