RAMSEY CROOKALL

Evening Report

28th October 2011

The FTSE 100 ends down 0.2%. Banks are the biggest fallers, with Lloyds Banking Group down 5.2% and RBS down 3.6%, following bumper gains Thursday. Barclays also fell  despite an upgrade from J.P.Morgan from neutral to overweight and a "buy" reiteration from Investec. Meanwhile, only HSBC continued to perform well following the recent developments in the Eurozone.

International Consolidated Airlines fell following a target price cut from UBS from 260p to 240p.

Hammerson, the FTSE 100 retail-focused real estate firm, was in demand after selling off a further interest in the O'Parinor shopping centre in France for €106m, following the disposal of a majority interest last year.

Elementis, the speciality chemical additives firm, rose after it said all three of its divisions traded ahead of last year's levels in the third quarter. The company remains confident that full year earnings, excluding exceptional items, will be in line with the board's expectations.

Africa and Russia-focused firm Victoria Oil & Gas  said its flagship Logbaba gas and condensate project in Cameroon is now approaching its initial production phase with first gas sales anticipated by the end of this year.

THE FTSE 100 closed                        Down      11         @         5702

THE DOW JONES at16:40                      Up        6          @         12215       NASDAQ COMP at 16;40                       Down      1          @         2737  

            CommoditiesSpot Gold $/Oz           $1738                Down               0.33 %     Brent Crude Oil          $110.09              Down               1.78 %

Exchange Rates GBP – USD               1.6137 GBP - EURO             1.1389