A quiet day on the ISEQ yesterday was the result of a lull as British investors awaited today's budget and as Wall Street appeared cautious ahead of yesterday evening's speech by the chairman of the Federal Reserve, Mr Alan Greenspan.
Elan, the pharmaceutical company, was the main mover of the day, registering a 4 per cent increase, from €73 (£57.49) to €76.01 (£59.86) in four deals. In New York the stock was up 5.5 per cent to $85 3/8 (€67.24) after Standard & Poor's affirmation of the company's BBB corporate credit rating last Wednesday.
The banks and, following last week's results, CRH, were drifting, although AIB firmed up 5 cents to €15.90 (£12.52). Bank of Ireland was 17 cents down, to €18.38 (£14.48), giving up almost half of last Friday's gain. CRH shed 20 cents, closing at €16.30 (£12.84).
In advance of today's results, Waterford Wedgwood attracted some interest, although it only gained 1 cent to 73 cents (57p) in three deals.
Kerry, which is also announcing results today, moved up 10 cents to €12.05 (£9.49) amid rumours that it is interested in purchasing the US ingredients company, Bush Boake from Union Camp Corporation.
Independent gave up some of its recent gains, easing back 10 cents to €3.90 (£3.07), Ryanair moved up 15 cents to €7.05 (£5.55) and Tullow was up from 47p sterling (69 cents) to 84 cents (66p), a 22 per cent gain.
