RAMSEY CROOKALL & CO
14th September 2012
Evening Report
The FTSE 100 closed 1.6% higher at 5915.55, buoyed by the Fed's stimulus plans
announced after last night’s London close. Miners have made sizeable gains in
todays trade with less risky names falling. Sentiment was also underpinned by
positive US data, as business inventories for July showed their best print since
January; University of Michigan confidence also beats expectations.
Royal Bank of Scotland Group PLC said Friday it would proceed with the initial
public offering of its Direct Line insurance business, despite fears the move
could raise less than the U.K. bank hoped.
Rio Tinto is pushing ahead with the expansion of its mineral sands operations,
holding to plans to invest 800 million Canadian dollars (US$826 million) over
five years to extend the life of its Lac Tio ilmenite mine in Quebec and overhaul
a titanium dioxide smelter in the Canadian province.
BSkyB heads the FTSE 100 fallers on concerns over the ownership of rugby broadcasting
rights following rival BT's recent contract win. BT surprised the market in June when
it bought some live UK broadcasting rights to Premier League soccer games, which will
be aired on its new sports channel next year along with the rugby matches.
Weatherspoons posted a rise in earnings on higher revenue, with recent trading
boosted due to the Olympic Games.
Globally diversified mining company Anglo American said Thursday a Brazilian civil
court gave approval for the company to resume construction at areas in Minas Gerais
state where it is developing its Minas-Rio iron-ore project, following a stoppage of
nearly six months on concerns over the proximity of archeological sites.
THE FTSE 100 closed Up 95 @ 5,915
THE DOW JONES @ 17:00 Up 41 @ 13580
THE NASDAQ @ 17:00 Up 34 @ 3190
Exchange Rates
GBP – USD @ 17:00 1.6243
GBP - EURO @ 17:00 1.2361
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