RAMSEY CROOKALL & CO
19th June 2012
Evening Report
Heightened expectations for more stimulus from the Bank of England and solid
Spanish-debt-auction results helped ease tensions on financial markets on
Tuesday and pushed U.K. stocks higher. The FTSE 100 closed 95 points higher
or +1.73% to close at 5,586, the dominant sectors were the Technology Financial
and oil sectors as investors once again sort to buy risk assets.
Whitbread shares surged to the top of the U.K. index, up 6%. The UK hotel and
restaurant company and operator of coffee bars reported that first-quarter
same-store sales rose 4.5% while total sales rose 14%.
Engineering-solutions business Weir Group closed up 1.8% after it said it saw
revenue opportunities of up to 3 billion pounds ($4.7 billion) in its
minerals division over the next 10 to 15 years.
Miners were also proving popular as investors sought riskier assets,
as investors continue to react positively to the G20 pledge to 'take all
necessary measures to safeguard the integrity and stability' of the Eurozone.
Eurasian Natural Resources, Antofagasta, Rio Tinto, Vedanta and Kazakhmys
all making strong gains by late afternoon.
Household cleaning and cosmetic firm Unilever was unwanted, along with
sweeteners giant Tate & Lyle and bread manufacturer AB Foods.
THE FTSE 100 closed Up 95 @ 5586
THE DOW JONES @ 17:00 Up 123 @ 12864
THE NASDAQ @ 17:00 Up 32 @ 2927
Exchange Rates
GBP – USD @ 17:00 1.5729
GBP - EURO @ 17:00 1.2394
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