ABN Amro has issued a batch of share recommendations, including Elan, AIB, Bank of Ireland, Baltimore Technologies, Smurfit, Iona Technologies, Anglo Irish Bank, Galen and Riverdeep. It continues to take a very positive view of Elan, mainly because of its product pipeline and likely positive news regarding acquisitions and partnership deals. AIB, Bank of Ireland and Anglo Irish Bank are highlighted as they trade at substantial discounts to other European financial stocks.

A strong set of results is expected from Baltimore Technologies, while Iona is being highlighted again because of its low valuation at a time when the company's fundamentals appear sound. Meanwhile it has begun coverage of Riverdeep with a buy recommendation.

Smurfit is back in favour. The shares have fallen by 30 per cent this year but have rallied in recent weeks. ABN Amro suggests there is further scope for progress.