RAMSEY CROOKALL & CO April 12th  2012

Evening Report

The FTSE 100 closed up 1.3%, with a firmer session on Wall Street following QE-friendly remarks by New York Fed president offering the support as well as vague market talk of a better-than-expected reading of Chinese GDP figures due out tonight. Mining stocks were propped up by these hopes, with Rio Tinto closing 2.59% higher.

Engineering giant GKN lead the risers after Credit Suisse upgraded the stock from neutral to outperform, saying the the company is in 'pole position' to acquire Volvo Aero Engines.

Temporary power and temperature control solutions group Aggreko also rose, following reports of a "very strong" first quarter, with both International Power Projects and the Local business growing underlying revenues by over a fifth.

Anglo-Dutch integrated oil company Royal Dutch Shell has deployed a vessel to investigate an oil sheen in the Gulf of Mexico close to two of its oil platforms. Shell said there is no evidence that the sheen, which covers an area about one-mile-by-ten, emanated from any of its platforms. "The source and type of sheen is currently unknown," said Kelly op de Weegh, a spokeswoman for Shell.

Recruitment firm Hays leapt into the top spot on the FTSE 250 after it posted a 12 per cent actual increase in group net fees for the quarter ended March 31st. As a result the firm expects full-year operating profit to be towards the top of the current market estimates.

Egyptian gold miner Centamin rose strongly after seeing total production grow 9% in the first quarter despite strike activity during the period. Sector peer Petropavlovsk pulled out of the tail-spin it has been in since the start of February after the company announced a sharp increase in gold production in the first quarter.

THE FTSE 100            closed             Up          75       @    5,710 THE DOW JONES           @ 17:00            Up          143       @    12949 THE NASDAQ              @ 17:00            Up          33        @    3050

Exchange Rates

GBP – USD       @      17:00                  1.5939 GBP - EURO     @      17:00                  1.2100

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