A weak opening on Wall Street pared earlier on the ISEQ today. But the prospect of a cut in British interest rates and a strong performance by Elan put 28 points on the ISEQ today.
Eircom hardly moved despite Denis O'Brien's renewed bid for the telecom company. Eircom gained 1 cent to euro 2.57.
The debt-laden European telecom sector came under heavy selling pressure after France Telecom cut euro 10 billion off the flotation value of mobile subsidiary Orange. Orange is set to go public next week.
Irish-American pharmaceutical Elan gained euro 2.0 or 3.6 per cent to euro 55.50 in a strong opening on the Nasdaq.
Green Property topped the gainers board today in anticipation of a rate cut in Britain where the firm has major interests.
Technology firms felt the fallout from disappointing fourth-quarter results from IT giant Cisco Systems. Iona followed the Nasdaq lower, falling euro 1.91 to euro 57.50.