The latest opinion poll shows Labour's Michael D Higgins is the favourite to become the next president of Ireland.

According to the Sunday Independent/Quantum Research opinion poll, 27% of respondents said they would give Higgins their number one vote.

Senator David Norris is in second place on 20%, while Independent Sean Gallagher has moved up to third place on 13%.

Of the 500 people surveyed, 12% said they would vote for Mary Davis, 11% said they would support Sinn Féin's Martin McGuinness, 10% would give Fine Gael's Gay Mitchell their number one, while Independent Dana is trailing on 7%.

For the first time since this election campaign began the poll also offers a clearer picture as to where transfer votes would go - with Michael D Higgins picking up second preference votes from supporters of all of the remaining candidates.

This latest poll comes as Environment Minister Phil Hogan said Martin McGuinness as President would do irreparable damage to Ireland's reputation abroad.

He told the Sunday Independent that US multinationals would be appalled if Ireland had what he describes as a "terrorist" living in the Park.

And that this in turn could jeopardise the level of corporate investment which Ireland receives from America.