RAMSEY CROOKALL & CO April 19th 2012

Evening  Report

The FTSE 100 closed flat at 5744, faring better than its European counterparts despite a raft of disappointing US data in the second half of the session.

Hargreaves Lansdown, the financial services provider and asset management group, rose strongly after seeing a record level of Assets under Administration (AuA) in the three months to March 31st despite the tough macro-economic conditions.

Engineer IMI was a high riser after Jefferies upgraded its rating on the stock from hold to buy, saying that while the group isn't exactly geared for high growth, it does provide high returns.

Insurance group Prudential closed up after some positive broker commentary with UBS raising its target price on the stock, saying that it is trading in line with UK peers "which is anomalous given its Asian exposure."

Meanwhile oil and gas firm Tullow fell following its announcement that its Mercury-2 exploratory appraisal well in Sierra Leone and the Kosrou-1 exploration well in Côte d'Ivoire have both encountered water bearing reservoirs with oil shows.

Shares in Cable & Wireless Worldwide (CWW) plunged following the revelation that Tata Communications has decided not to bid for the firm. The leaves Vodafone as the only company still in the bid process. At the request of CWW the Panel on Takeovers and Mergers has extended the offer deadline for a second occasion until midday on the 23rd April.

THE FTSE 100             closed                   Flat      @      5,744 THE DOW JONES            @ 17:00                 Up          18     @     13051 THE NASDAQ               @ 17:00                 Up          6      @      3037

Exchange Rates

GBP – USD       @      17:00            1.6059 GBP - EURO     @      17:00            1.2225

??

??

??

??