The ISEQ index added 0.5% last week, its twelfth consecutive weekly advance.

Elan increased over 13% to 13.14 euros. The Irish drugmaker's US partner Biogen reported that the Tysabri multiple sclerosis medicine, suspended in 2005 after being linked to an often fatal nervous system disease, may return to the market this year. Grafton decreased by 1.07% from 9.35 to 9.25. The company reported an 18% increase in earnings last year.

LONDON FTSE 100 5711.0 Up 0.4% on week UK stocks fell last week, paced by Vodafone and BT after Bear Stearns cut its recommendation for European telecoms companies. Vodafone dropped back 1% to 127.5p on Friday, while BT lost 2.4% to 215.2p. Bear Stearns downgraded European phone stocks to "underweight" from "market weight". Shire, a UK drugmaker, lost 4% to 816.5p. Merrill Lynch cut the stock to "neutral" from "buy". Compass decreased 3.25p, or 1.4%, to 233.5p.

EUROPE Euro Stoxx 50 3421.37 Down 0.4% on week European stocks fell following speculation that the New Year rally has outpaced profit prospects. France Telecom slumped after saying 2005 sales increased less than forecast, reigniting concern that earnings growth will slow in the telecommunications industry.

NEW YORK DOW 10,959.8, unchanged on week Nasdaq 2317.0, up 0.2% on week S&P 500 1287.6, up 1% on week The Dow Jones was unchanged as disappointing forecasts signalled that the New Year's rally may have run out of steam. Tyco and Lucent lowered projections for the year, after similar moves earlier in the week from "rms including Alcoa and DuPont.