RAMSEY CROOKALL & CO
27th November 2012
Evening Report
The FTSE 100 ends up 0.2% at 5799.71, off highs as early enthusiasm over the Greek aid
deal wanes. Still, banks put in a solid performance on news that Mark Carney will be the
next BOE governor.
Banking peers Royal Bank of Scotland, Lloyds and Barclays were registering decent gains
as investors built positions in 'riskier' assets. RBS was benefitting this morning from
an rating upgrade by UBS to 'buy'. Meanwhile, Barclays Capital raised its target price
for both RBS and Lloyds, helping provide a lift to shares.
In contrast, Aberdeen Asset Management was among the worst performers of the morning after
Citigroup downgraded its recommendation for the stock to 'neutral'.
Pearson shares fell after Rona Fairhead, the Chairman and Chief Executive Officer (CEO)
of its subsidiary the Financial Times Group announced that she is to leave the firm next
year announced on Tuesday afternoon. Fairhead, who has been with Pearson for 12 years,
is said to be pursuing "the next phase of her career outside Pearson".
Vodafone, the telecoms giant involved in the development of the M-Pesa service in Africa,
rose after announcing that from Tuesday 27th the service's Kenyan customers will have access
to interest bearing saving accounts and have the ability to take out small loans through a
new service, called M-Shwari.
Outsourcing giant Capita rose after it said it was the preferred bidder for an educational
support services joint venture with Staffordshire County Council. The joint venture, in which
Capita will hold a majority stake, will initially deliver a range of educational support
services for schools and academies in the Staffordshire region.
Falkland Oil and Gas, which is focused on its license areas to the south and east of the
Falkland Islands, reported that it found poor quality hydrocarbons at its Scotia exploration
well 31/12-01 which it now plans plug and abandon. The shares fell 45% on the news.
THE FTSE 100 Closed Up 12 @ 5799
THE DOW JONES @ 17:00 Down 3 @ 12964
THE NASDAQ @ 17:00 Up 1 @ 2978
Exchange Rates
GBP – USD @ 17:00 1.6026
GBP - EURO @ 17:00 1.2385
Gold USD/Oz $1,745
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