RAMSEY CROOKALL & CO

20th  November 2012

Evening Report

The FTSE 100 ends 0.2% higher at 5748.10, finishing well off the session's low of 5706.70. The index rose as investors hope for a ceasefire between Hamas and Israel. Expectations are also high that a deal on Greece's aid tranche will be agreed at the current Eurogroup meeting in Brussels. Wednesday, the minutes of the BOE's November meeting and the UK public finances report for October are both out at 9:30 am.

Xstrata shares jumped after the company's shareholders gave their approval on a merger between it and commodities trading giant Glencore, sealing the deal on what has been 10 months of discussions. However, investors voted against the controversial retention package for its managers.

Fashion chain Burberry shares got a boost after it was reported on Bloomberg TV that the company is likely to be able withstand the slowdown in China.

Analysts at Barclays have raised their view of hotels giant Intercontinental Hotels to 'overweight', prompting shares to rise throughout the day.

Shares in Barclays and HSBC were lower after Andrew Bailey, the head of banking supervision at the FSA, said that banks should face the threat of being broken up if they do not comply with proposals to ring-fence retail and riskier operations.

Imperial Tobacco and British American Tobacco both fell after the Australian government blocked a request for the World Trade Organisation to investigate the companies' claims that it, the Australian government, unlawfully seized their (and a number of other companies') intellectual property. Australia banned the sale of cigarettes sold in packaging containing trademarks. The country will not be able to block a second request.

THE FTSE 100      closed       Up        10  @   5748 THE DOW JONES     @ 17:00      Up        11  @   12807                                                     THE NASDAQ        @ 17:00      Flat     @   2915

Exchange Rates GBP – USD        @    17:00    1.5925 GBP - EURO       @   17:00    1.2425

Gold USD/Oz        $1,731