RAMSEY CROOKALL & CO 24th September 2012

    Evening Report

The FTSE 100 ends down 0.2% at 5838.84, but well off session lows. Euro zone growth worries weighed on sentiment following a disappointing German Ifo reading, together with an apparent lack of progress on Spain's debt crisis. Miners saw the brunt of the losses, with Evraz sinking 3.95%.  

Sales of Apple's iPhone 5 tops more than five million during its first three days in stores, a new record that still undershot some analysts' estimates because of supply constraints. Shares dip 2% early.

The U.K. government is investing GBP1 billion to set up a new state-backed business bank that it hopes will eventually support up to GBP10 billion of new lending for small- and medium-sized companies, Business Secretary Vince Cable will announce today.

Aberdeen Asset Management said assets under management (AuM) at Aug. 31 totalled 184.3 billion pounds, up 1% on GBP182.7 billion at June 30.

Defense technology and security company QinetiQ Group said Monday that its performance during the first half of the financial year has been stronger than originally expected, adding that it is confident it should at least meet its expectations for the current year.

U.K. dairy company, Dairy Crest Group which houses the Cathedral City, Country Life and Utterly Butterly brands among its portfolio, said Monday trading in the first half of the year has remained challenging and profit, having adjusted for the disposal of the French spreads business, St Hubert, will be lower than the same period last year.

The Financial Times reported today ,without citing sources, that BAE Systems has warned that it would walk away from its proposed merger with Franco-German European Aeronautic Defence & Space Co. if the deal puts at risk its relationship with the U.S. Pentagon.

Bumi ends 25% lower after announcing that an investigation has been launched at its Indonesian operations.

THE FTSE 100              Closed         Down      13        @      5838 THE DOW JONES            @   17:00       Down      23        @     13556 THE NASDAQ               @ 17.00       Down     22        @      3157

Exchange Rates GBP – USD        @       10:00                 1.6199 GBP - EURO      @       10:00                 1.2548