RAMSEY CROOKALL & CO

29th May 2012

Evening  Report

The FTSE 100 finished @ 5,391 up 34 points (0.7%). with cyclical stocks leading the upside.

Leading the fallers was plumbers' merchant Wolseley (down 1%) which saw like-for-like growth slowdown in its fiscal third quarter as it runs up against tougher comparatives from last year.

Banking groups were also providing a drag in London with heavyweight constituents RBS and Lloyds in the red. Investor sentiment has been dented by news of the Bank of England's preparations to guard against the impact on the euro should Greece or any other countries defect from the single currency.

Meanwhile, many of the mining giants advanced on the back of speculation that China may administer further stimulus measures to boost growth, with Glencore (up 2.6%), Evraz (up 4.3%) and Xstrata (up 1.9%)  leading the way.

British Airways parent International Consolidated Airlines Group (up 4.1%)   was back on top following heavy losses on Monday which came after the president of Bankia (which holds a 12% interest in IAG) said the bank would sell assets to raise much needed funds.

THE FTSE 100 Closed                Up 34       @   5,391

THE DOW JONES @ 16.30              Up 144      @   12,598

THE NASDAQ COMP @ 16.30            Up 35       @   2,873

Exchange Rates

GBP – USD     @ 16.30            1.5661 GBP - EURO    @ 16.30            1.2501

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