RAMSEY CROOKALL & CO
3rd November 2011
Evening Report
The FTSE 100 index gained 1.12% in afternoon trading, tracking gains in other regional markets
after the European central bank cut interest rates.
Tate & Lyle reported stronger than expected first half results with adjusted pre-tax profits of £180m.
The sweeteners group said the numbers, which were 10% ahead of what analysts expected, came as a result
of strong demand across a number of markets. Sales were up 19% to £1.54bn.
Telecoms titan BT rose after a strong second quarter performance reinforced its confidence of hitting
its full-year targets. Adjusted profit before tax, which excludes the effects of a retrospective
regulatory ruling in Germany, rose 15% to £570m in the three months to 30 September from £496m in the
corresponding period of last year.
Hedge fund manager Man Group also rose strongly as it announced a $150m share buy-back programme.
The firm also revealed adjusted pre tax profits of $195m for the six months to the end of September
were down 14% on the same period of 2010.
Consumer products giant Unilever fell. The firm behind brands such as TreSemme, PG Tips and Bryl cream,
fell lower despite seeing underlying sales grow 7.8% in the three months to September.
Insurance giant Aviva fell after seeing a decline in worldwide sales in the nine months to the end of
September. As of the end of the third quarter, total sales stood at £30,597m down 5% on the same
period of 2010.
Savings, investments and insurance group Old Mutual edged higher after seeing life sales grow by 8%
in the three months to 30 September, helped by strong growth in emerging markets.
Silver miner Fresnillo PLC rose 2.12%, tracking gains in silver prices.
THE FTSE 100 Closed Up 61 @ 5,545
THE DOW JONES @ 16.40 Up 103 @ 11,939
THE NASDAQ COMP @ 16.40 Up 28 @ 2,668
Exchange Rates
GBP – USD @ 16.40 1.5982
GBP - EURO @ 16.40 1.1623
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