Bank of Ireland itself, BNP Paribas, Deutsche Bank and Morgan Stanley have been named to manage the sale, IFR said.

(Reporting by Natalie Harrison) ($1=.7714 Euro) Keywords: BANKIRELAND/BOND

(natalie.harrison@reuters.com; +44 207 542 2687; Reuters Messaging: natalie.harrison.reuters.com@reuters.net)

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- The investment subsidiaries of Allied Irish Banks , Irish Life & Permanent and Bank of Ireland and a number of other Irish and international institutions are developing a plan to recapitalise the domestic banking system as co-investors with the state.

- Bank of Ireland has held talks with four parties, including U.S. private firms TPG and Kohlberg Kravis Roberts, which have expressed an interest in making an investment in the bank. The parties include the Irish-led Mallabraca consortium and two sovereign wealth funds from the Middle East.

- The provision of jobs for life to public servants is likely to be examined by a review group set up by the government as part of its planned reform of public services.

IRISH INDEPENDENT

- Retail giant Harvey Norman has compared Ireland's economic downturn to the return of the "potato famine".

- Finance Minister Brian Lenihan and Department of Health officials were warned days before the Budget of the "significant risks" attached to the move to abolish the automatic entitlement to a medical card for over-70s.

IRISH EXAMINER

- The government, AIB, Anglo Irish Bank, Bank of Ireland and Irish Life & Permanent have been offered billions of euros in long-term investment funding that could deliver a solution to the Irish banks' critical shortage of capital.

- Farmland has lost up to half its value in the past year, according to RTE's flagship farming show.

Looking for more information from local sources? Reuters Business Briefing has five Irish sources including Irish Times. For details of the product please call your local help desk .

(Dublin newsroom + 353 1 500 1550, fax + 353 1 500 1551, dublin.newsroom@reuters.com)

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Results diary

Stocks on the move Real-time Equity News

12:39GMT24Nov2008-Bank of Ireland up on continued bid talk

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Shares in Bank of Ireland up 15.2 percent on continued Irish media reports of private equity interest, while Irish Life & Permanent rises over 9 percent amid continued speculation over consolidation in the banking sector.

"It's retail buying on the back of press speculation ... and (the perception) that there's value in the two share prices at current levels," says a Dublin based trader.

Irish media reports say a consortium that includes U.S. private equity groups is interested in taking a stake in Bank of Ireland or in a possible merged group comprising the bank and IL&P.

Bank of Ireland said on Friday it had received unsolicited approaches from a

number of unnamed parties seeking to invest in the group, while Finance Minister

Brian Lenihan said on Sunday the government would welcome capital injections from private investors on appropriate terms.

Reuters messaging rm://laurence.fletcher.reuters.com@reuters.net

12:31GMT 24Nov2008-WH Smith gains; Merrill Lynch ups to "buy"

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Shares in WH Smith gain 9 percent as Merrill Lynch lifts its recommendation to "buy" from "neutral", saying it believes the shares look oversold.

Trading on 8.3 times 12-month rolling price earnings, WH Smith's valuation now looks attractive, says Merrill Lynch in a note. "We do not think our forecasts are aggressive and we think the market is overestimating the downside risk from falling airport passenger numbers," says the broker.

Merrill Lynch points out that passenger numbers in airports, where the retailer traditionally has many outlets, are falling, but despite the fall in the last three months of 2008 - down 5 percent - like-for-like sales in the airport stores went up by 3 percent.

"With pricing power, we expect WH Smith to continue to outperform passenger numbers," says the broker, which has a 405 pence price objective on the company.

Reuters Messaging rm://tricia.wright.reuters.com@reuters.net

12:22GMT 24Nov2008-Nyrstar jumps along with sector

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Shares in Belgian zinc producer Nyrstar jump 8.0 percent in line with other basic resources players, though analysts say the rise does little to make up for the beating the stock has taken in the last year.

Nyrstar has fallen some 88 percent in the last year, from a close of 18.60 euros on Nov. 4 2007 to 2.20 euros as of 1221 GMT Monday.

"A rebound of 10 cents is not so very impressive - the actual share price is, in numbers, still really low," says ING analyst Filip De Pauw, adding that a

recovery in zinc prices in the near future is unlikely given the macroeconomic conditions.

Nyrstar's gains are largely in line with gains on the DJ Stoxx Basic Resources index, up 8.6 percent as of 1221 GMT, due mostly to the Dow Jones Industrial Average's Friday rise, according to De Pauw.

Reuters messaging rm://anne.jolis.reuters.com@reuters.net

12:18GMT 24Nov2008-Minera higher on positive drill

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Shares in Minera IRL Ltd, the Peruvian gold producer, rise 2.9 percent to 52.5 pence after a positive drilling result in southern Peru.

Research house Fox-Davies Capital says this is "an excellent start" to the Ollachea exploration programme that indicates the potential for a multi-million ounce ore body.

"With the company having around $11 million in the bank and being cashflow positive, Minera is in a strong position to complete the exploration," it says.

The broker is maintaining its "buy" recommendation on the shares with a 70 pence price target.

For more click; company statement

malcolm.locke@thomsonreuters.com; +44 207 542 0964

12:12GMT 24Nov2008-Venture rises; Kittiwake field back online

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Shares in Venture Production climb 7 percent as it says production has now resumed at its Kittiwake platform, after the oil field was shut-down on Nov 6, 2008.

However, Venture has decreased its estimated annual average production for the field to between 43,500-45,000 barrels of oil equivalent per day (boepd), which Credit Suisse notes is the third such reduction already this year.

The broker, which has an "underperform" rating on the stock and a target price of 400 pence, says: "Gas price remains the only real potential catalyst...

There are very little exploration catalysts given that the business model focuses on near-field exploration around existing production hubs rather than high impact exploration."

For more double click on

Reuters Messaging rm://david.brett.reuters.com@reuters.net

12:05GMT 24Nov2008-British Land gains 5.4 pct on Citi upgrade

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Shares in British Land gain 5.4 percent after Citigroup raises its recommendation to "buy" from "hold", citing attractive growth potential for the property developer.

"With some of the most resilient cash flows in the sector...we are increasingly attracted by British Land's near-and medium-term potential," Citigroup writes in a research note.

The value of British Land's property portfolio has dropped by 1.4 billion pounds in the past six months, but the company has managed to secure tenants for

one of its high profile City office blocks, the Times reported last week.

Stock in British Land is down 45.75 percent on the year, but has outperformed peers in the beleaguered UK real estate sector by 10.75 percent over the same period, according to Reuters data.

Reuters Messaging rm://nicholas.vinocur.reuters.com@reuters.net

11:51GMT 24Nov2008-Pennant tumbles on profits warning

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Shares in Pennant International Group Plc tumble 41.2 percent to 5.0 pence as the AIM-listed logistics services company warns its full year results will be significantly below expectations.

Stockbroker WH Ireland is cutting its 2008 pre-exceptional pretax forecast from 300,000 pounds to just 10,000 pounds.

While calling the announcement "disappointing" it said the stock's forward multiple more than prices this in. "Recognising the uncertainty regarding the timing of contract awards while acknowledging the strength of the balance sheet,

we move to a speculative 'buy' recommendation", the broker says.

For more click; company statement

malcolm.locke@thomsonreuters.com; +44 207 542 0964

11:42GMT 24Nov2008-Phoenix IT weak after H1; Panmure downgrades

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Shares in Phoenix IT down 1 percent following first half results and news of a change of chief executive, with Panmure Gordon cutting its rating to "hold" from "buy" in response.

Panmure Gordon notes that Phoenix IT's interims are in-line with the group's

October trading update, with its operating environment having not deteriorated further and the firm gives an upbeat assessment of the full year outlook.

However, the broker says that the departure of Phoenix IT's CEO Jeremy Stafford augurs ill, as while his replacement, Nick Robinson, is well-regarded, he had previously left the group due to ill-health, so Panmure thinks the revolving door suggests deeper problems at the firm.

The broker says it will reduce its current year EPS forecast for Phoenix IT to 21.7 pence from 24.4 and, as a result, reduces its target price for the stock

to 173 pence from 268 and cuts its rating to "hold".

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Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net Keywords: MARKETS EUROPE STOCKSNEWS

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Ireland was one of the first countries to respond to the credit crisis with a guarantee for bank liabilities worth some 440 billion euros ($550.9 billion), but it has not bailed out or nationalised any banks, and they have not raised equity themselves.

Speculation has continued to grow over Irish government plans for consolidation in the country's banking sector.

The Irish Examiner, citing unnamed sources, said talks between the two groups kicked off in Dublin on Friday with Bank of Ireland aiming to stave off pressure to merge with domestic rivals through Sandler O'Neill taking a large stake.

Bank of Ireland said on Friday it had received unsolicited approaches from a number of unnamed parties seeking to invest in the group, but added that no decision had been made.

The Irish Times said separately on Saturday that two sovereign funds from the Middle East were interested in taking a stake in the bank and in a possible merged group comprising Bank of Ireland and Irish Life & Permanent.

The Irish Times said the wealth funds were part of an investment consortium that included U.S. private equity groups.

Irish banks have been under growing pressure to raise their capital levels to match European peers. Exposure to a falling property market has hit investor sentiment and shares in the four listed banks have fallen over 90 percent from highs set last year.

Finance Minister Brian Lenihan said this week he was determined to reform the banking sector, but would not comment on reports of an impending recapitalisation plan which could include pushing through bank mergers.

Six Irish institutions signed up for the government's two-year scheme and Lenihan met with the heads of the groups this week for what the finance ministry described as "structured" discussions.

Further talks will take place on Friday, a finance ministry spokesman said.

The Irish Times said on Saturday Ireland's EBS was in talks with Rabobank over a potential takeover of the Irish building society by the Dutch banking group.

EBS declined to comment, while Rabobank was not immediately available for comment on the report.

IL&P said on Friday it had been in discussions with EBS over how the two might work together in the current market environment.

Irish media has said the government could seek to create two enlarged banks based around Bank of Ireland and Allied Irish Banks.

A government source told Reuters on Saturday there were discussions about restructuring and consolidation, but added that talk of creating two enlarged banks was untrue. (Editing by Peter Blackburn) ($1=.7987 Euro) Keywords: IRELAND/BANKS

(jonathan.saul@reuters.com; +353 1 500 1504; Reuters Messaging: jonathan.saul.reuters.com@reuters.net)

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