Dublin Report: The Dublin market took a breather yesterday, with volumes low across the board and price movements limited.
The exception came in Warner Chilcott, which has received a takeover approach from a group of private equity houses. Action in the shares came in London rather than Dublin however, with shares gaining 98.5p to close at 746.5p on the London market.
Elsewhere, Elan gave up some ground after soaring in advance of its entry to the FTSE Eurotop 300 index on Friday. Shares in the pharmaceutical firm shed 35 cents to finish at €19.95.
Drugs supplier United Drug was among the best performers in Dublin as it gained five cents to reach €3.05.
Eircom was quiet after the lock-up on its 7 per cent "greenshoe" stake expired on Saturday. Just 650,000 shares changed hands, with the stock closing unchanged at €1.48.
The banks were all quiet, with most struggling to mark volume of more than half a million shares. AIB added five cents to close at €13.50, while Bank of Ireland finished one cent weaker at €11.34. The bank issues a trading update Thursday. Analysts expect a solid statement.
Anglo Irish outperformed the sector by climbing 15 cents to €14.85. Irish Life and Permanent added five cents to end the session at €12.90 after the Sunday Tribune reported that HBOS would not be interested in making a takeover approach.
CRH held up well against the generally lacklustre backdrop, with shares climbing 15 cents to €19.55.
Ryanair, which holds its a.g.m. in Dublin on Thursday, fell three cents to €4.17. The airline sector as a whole is expected to be shaken up later this week by news that Easyjet is retiring some of its planes early in an effort to cut costs.
One of the few stocks to register volume of more than one million shares was Waterford Wedgwood, which will hold its a.g.m. on October 21st. Shares in the firm held steady at 14 cents.
