With Nasdaq rebounding after good news announcements from Microsoft and Yahoo, Irish technology stocks recovered strongly with Baltimore and Smartforce the pick of the bunch - but for contrasting reasons.

Baltimore soared on Nasdaq after the late announcement that it had received an approach from the privately-owned British group Chantilley. Market sources are not convinced about the Chantilley approach, but they believe the early arrival of a potential bidder may trigger the interest of more likely bidders such as Verisign, Entrust and RSA. Baltimore was up 32 cents on $1.08 in early trading after earlier closing 4p higher in London on 30p sterling.

Smartforce was the other star after its excellent second-quarter results and a well-received conference call. By midday on Nasdaq, the shares were trading $6.60 higher on $36.32 in heavy trading. Parthus jumped 9-1/2p to 63-1/2p in London and continued that trend on Nasdaq where it was $1.42 higher on $9.15 in early trading.

On the home market, the banks benefited from the better international tone with Bank of Ireland adding 40 cents to €11,65 in volume of 2.7 million shares. AIB was 21 cents higher on €13.01.

Among the industrials, the heaviest trading was in Greencore where more than 3 million shares dealt although the price was unchanged on €2.45. Glanbia continued its steady improvement and was three cents higher on €1.08. CRH added just two cents to €20.48 with investor attitude possibly tempered by a downgrading

of its debt by ratings agency Fitch. While Fitch acknowledged CRH's traditional financial prudence, the agency is "led to believe that CRH is gradually repositioning itself to focus more on shareholder value than on maintaining a financial profile consistent with previous ratings".