NCB Stockbrokers has issued a new batch of buy recommendations for investors. These include Anglo Irish Bank, Irish Life & Permanent, Golden Vale and Clondalkin.

The broker's favourite stock is the newly merged Irish Life & Permanent. It will offer the "purest play" on the Republic's rapidly growing personal banking and long-term savings markets in Ireland, according to NCB. The merged entity should also have the highest quality earnings stream amongst the Irish banks. The brokers also state that Anglo offers good value at the moment as the stock is relatively cheap. An improvement in Golden Vale's strategic positioning and its low rating relative to its peer group also warrants a buy recommendation.

Investors looking to pick up good value are being advised to buy Clondalkin on the basis that its recent losses on the market have been greater than is warranted.