German inflation hits 15-month high
Inflation in Germany, Europe's top economy, was the highest for 15 months in March, the national statistics office said yesterday, driven by a spike in energy and fuel costs. Inflation on a 12-month basis was 1.1pc, the Destatis office said, confirming preliminary data unveiled at the end of March. On a monthly basis, prices rose by 0.5pc.
Elan to present new Tysabri data
Irish drug company Elan is to present a substantial amount of new data related to its Tysabri multiple sclerosis drug at a conference in Toronto, Canada, this week. Elan and US drug firm Biogen Idec, which co-markets the drug, will present findings at the American Academy of Neurology annual meeting. The data would confirm the "strong efficacy profile" of Tysabri, said Biogen Idec senior vice-president Alfred Sandrock. Shares in Elan closed up 2.7pc in Dublin at €6.04 yesterday.
Neutral rating for Ryanair at HSBC
HSBC has initiated coverage of Ryanair with a neutral rating and predicted the airline will have generated a net profit of €314m in the financial year just ended in March. That is slightly ahead of the €310m guided by management. HSBC added that its blended valuation method implied a target price of €4.30 for Ryanair shares, which yesterday closed flat at €4 in Dublin. HSBC said it preferred EasyJet stock over Ryanair, and gave the British-based airline an overweight rating.
LVMH soars as sales top forecasts
LVMH (Moet Hennessy Louis Vuitton) rose to the highest price in almost 10 years in Paris trading after the world's largest maker of luxury goods reported Q1 sales that beat analysts' estimates. Revenue in the three months ended March 31 increased 11pc from a year earlier to €4.47bn.
An article that appeared in the Irish Independent edition of Friday, April 9, under the heading 'Irish Nationwide seeks return from apartments on prime Dublin site' made reference to apartments offered to the public by Irish Nationwide and Durkan Homes in 2007 at Booterstown Wood. We wish to point out that Durkan New Homes or the Durkan Group are not associated with this development.