Shares in Internet education group Smartforce rose strongly on the Nasdaq market after the group reported first-quarter results well ahead of market forecasts. In heavy trading, Smartforce closed up $3. 92 at $30. 77 and was well-supported at those levels.

Analysts had been expecting first quarter earnings of three US cents per share, but Smartforce beat these forecasts by more than 30 per cent with earnings of four US cents a share. Revenues in the quarter totalled $61.3 million, more than double the revenue figure for first quarter 2000.

Gateway, the computer company which employs 1,463 people in its European, Middle Eastern and African operations - 1,100 of them at its Dublin headquarters - has confirmed it will cut up to 200 jobs from these operations.