RAMSEY CROOKALL & CO 14th November 2012

      Morning Report The FTSE 100 is down 0.3% at 5768.08, edging off lows following UK economic data. The unemployment rate falls in the three months to September but claims for jobless benefits jump unexpectedly. However, the BOE will likely outline why risks to growth are still skewed to the downside with the Bank's Inflation Report at 10:30. AMEC is still the biggest gainer following upbeat results. On the downside, Sainsbury slips after updating the market.

Mining and oil stocks were among the worst performers on macroeconomic concerns , with ENRC, EVRAZ and Shell registering losses. Even Tullow Oil, which said this morning it is on track to hit its full-year production targets, was lower.

Banking peers Royal Bank of Scotland (RBS) and Barclays were in the red after Liberum Capital downgraded its ratings for the stocks to 'hold', citing the impact of a weak Eurozone economy.

Engineering consultancy AMEC gained after saying it was trading in line with expectations despite ongoing economic uncertainty. The firm said mining activity was slowing, but conventional oil and gas activity remained strong, particularly in the North Sea and Gulf of Mexico.

Supermarket group Sainsbury was falling early on despite reporting a better-than-expected under lying half-year profit before tax as it continued to outperform in a challenging market.

Defence group BAE Systems was down after saying that it has reached a settlement with the government of Trinidad and Tobago after a contract to provide offshore patrol vessels was cancelled two years ago.

Telecoms group BT fell after saying that it has made an agreed offer to acquire Tikit Group, the information technology services provider to the legal and accountancy profession, for £64.2m.

Energy supplier SSE was in demand after posting a 38% jump in profits in the first half as it immediately moved to offset a media storm over its hike in household bills last month. The firm pushed up its dividend 5% to 25.2p as earnings per share leapt 40.6% to 35.3p.

THE FTSE 100              @ 10:00        Down       24    @      5762 THE DOW JONES            closed          Down       58    @     12756                                THE NASDAQ               closed          Down       20    @      2883                                                          

Exchange Rates GBP – USD        @       10:00                1.5895 GBP - EURO      @       10:00                1.2471

Gold $/ OZ                            $1725