RAMSEY CROOKALL & CO May 16th  2012

 Evening Report

The FTSE 100 closed down 0.6% at 5405.25, though off its session low of 5354.0. Well-received US economic data helped sentiment somewhat, but Greece's problems still weighed.

Miners were once again bared the brunt of the risk-off attitude that has gripped markets over the last week as metals prices continue to fall. Xstrata, Glencore and Fresnillo and were among the worst performers. Both Xstrata and Glencore were also being pressured lower by downgrades from UBS.

Some heavyweight constituents were weighing on London's benchmark after trading without the right to their latest dividends. These ex-dividend stocks include Glencore, Morrison, Polymetal, Sainsbury, HSBC and Whitbread.

Financials pulled the index back into the blue, boosted by some better-than-expected US housing starts and industrial production data, with Aberdeen Asset Management, Man Group, Barclays and RBS all making decent gains.

Utilities group SSE made small gains after the group upped its full-year dividend by 6.8% following a 2.0% rise in adjusted pre-tax profits.

Catering firm Compass also edged higher after posting results that were slightly better than expected, driven by new business wins and a high rate of contract retention.

AT CLOSE OF BUSINESS THE FTSE 100    was   Down      32         @      5,405 THE DOW JONES            @ 17:00         Up        44         @     12676 THE NASDAQ               @ 17:00                     Flat       @      2892 Exchange Rates

GBP – USD       @      17:00               1.5931 GBP - EURO      @      17:00               1.2515

??

??

??

??