No sign of any downturn in the Irish Stockmarket for the rest of this year at least, with NCB stockbrokers forecasting a further 15 per cent rise in the ISEQ index of Irish shares by year end. The brokers believe the ISEQ will rise to the 6,000 level, with strong performances expected from the top 15 stocks. NCB is recommending that investors should stay with the financial sector, which although having achieved handsome returns for a lengthy period, still has the potential to yield further gains. It continues to recommend Bank of Ireland and AIB, as well as Anglo Irish Bank.

The brokers have recently upgraded its forecasts for Smurfit, predicting that it has the potential to outperform the market, while it is also very positive about Elan's prospects. NCB also suggests that investors will soon have a far greater choice to invest in the Irish stock market, predicting that up to 12 new companies will secure a listing over the next couple of years, with the partial flotation of Telecom Eireann and the listing of further Nasdaq-quoted companies on the ISEQ Index.