RAMSEY CROOKALL & CO 16th March 2012                                    Evening Report



The FTSE 100 finished up 0.4%, having pushed up to reach a session high of 5974, another tentative step toward cracking the 6000 level. Polymetal and Randgold Resources both dropped lower, as gold prices took a hit. Polymetal continued to make headlines concerning the rumoured merger with Russian peer Polyus Gold, which is aiming to raise its free float to 25% (from 14%) in order to gain a long-awaited premium listing on the FTSE 100.

Oil and gas firm Tullow was heading north after it released record results earlier this week, had more good news for shareholders with the successful drilling of an appraisal well off the coast of Ghana.

Lloyds was also on the up on reports that several ex-board members will not be paid share awards resulting from an incentive plan introduced in the wake of the merger with HBOS back in 2009. The awards were triggered by the squeezing out of £2bn of annual costs from the business, a goal achieved in 2011.

Also moving higher was Royal Bank of Scotland, after it had its rating upgraded by both UBS and Investec.

Imagination Technologies Group, the company behind the technology used in Apple's new iPad, leapt to their highest level in nearly 18 years following positive comments from Goldman Sachs.

THE FTSE 100 closed            Up        24            @    5,965 THE DOW JONES @ 17:00          Down       2             @    13,249 THE NASDAQ @ 17:00             Up        2             @    3058

Exchange Rates

GBP – USD       @      17:00        1.5722 GBP - EURO     @      17:00        1.2043