RAMSEY CROOKALL & CO       7th  November 2012

      Evening Report

The FTSE 100 closed 1.6% lower at 5791.63, giving back early gains.  A downgrade to European economic forecasts by the EU Commission, and worries about the US fiscal cliff, weighed on sentiment.  Randgold Resources is the biggest loser, down 6.4% after 3Q results. Thursday, the BOE rate announcement is at 12:00 GMT.

Polymetal topped the risers list today as gold prices neared a two-week high on the back of the Obama re-election.

Fellow miner Fresnillo was on the rise, tracking commodities prices higher as the dollar declined after Obama's re-election.

International services giant Serco was up, shrugging off a downgrade by Invesec to 'sell', after buying out its 15-year joint venture partner in Australian defence and marine services business DMS Maritime Pty for £68m. International services giant Serco has bought out its 15-year joint venture partner in Australian defence and marine services business DMS Maritime Pty.

Randgold Resources took a hit after a disappointing third-quarter result. The gold miner reported the production fell back from the preceding quarter's record levels as the company suffered grid power supply problems at its Tongon mine and processed lower grades at Gounkoto.

Like a number of resource companies, BG Group reacted to the news that the European Commission has cut its forecasts for gross domestic product growth in the Eurozone this year to 0.1%, from 1% before. Even in the case of Germany Brussels´s crystal ball now shows economic expansion coming in at a rate of 0.8% instead of the 1.7% rate hereto foreseen. The shares closed down 3.82%.

Luxury brand Burberry fell despite the fact that it reported a higher-than-expected profit in the first half and said it is looking optimistic about its new fragrance and beauty division which is to start operating next year.

THE FTSE 100            closed             Down           93        @      5791 THE DOW JONES           @ 17:00            Down           311       @      12934                                                      THE NASDAQ              @ 17:00            Down           76        @       2936

Exchange Rates GBP – USD                  @       17:00                           1.5975 GBP - EURO                @       17:00                           1.2520

GOLD USD oz $1,711