RAMSEY CROOKALL & CO April 24th 2012

Evening Report The FTSE 100 closed 0.77% higher at 5709.49, reversing some of the losses of the previous session. Tomorrow the first release of UK 1Q GDP will be of particular interest. However, the focus tomorrow will undoubtedly be on Apple’s 1Q results which are announced 30 minutes after the close of the session across the Atlantic.

Hedge fund manager Man Group lead the risers in London ahead of its quarterly assets under management update next week. UBS reiterated its buy recommendation on the stock this morning, saying that the firm is a "likely take-out candidate" and is on its 'M&A Watch List'.

Airlines group IAG rose after an upgrade by Credit Suisse from neutral to outperform. The first quarter of 2012 has been along much the same lines as 2011 at publishing group Reed Elsevier, prompting the group to reaffirm full-year expectations of underlying revenue and profit growth and spark a two per cent rise in the share price.

Smartphone chip designer ARM Holdings  fell despite seeing profits jump again in the first quarter as digital technology continues to spread. The firm reported adjusted pre-tax profits of £61.9m in the first three months of 2012, up 22% on the year before.

House builder Redrow rose after announcing a placing and open offer to raise nearly 80m pounds.

THE FTSE 100             closed        Up           43      @      5,709 THE DOW JONES            @ 17:00       Up           99      @     13026 THE NASDAQ               @ 17:00       Down         2       @      2968

Exchange Rates

GBP – USD       @      17:00                1.6132 GBP - EURO     @      17:00                1.2216

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