RAMSEY CROOKALL

Evening Report

26th October 2011

The FTSE 100 closed up 0.47%, turning lower as doubts set in about the likely efficacy of the EU.

Next was one of the worst performing stocks on the FTSE 100 after Deutsche Bank downgraded the high street giant from buy to hold, saying that it expects share price upside to remain muted until after Christmas. The German broker notes that Next has been the second best performing stock on the FTSE during the year-to-date, up 23% since its August lows while the blue chip index has risen just 10% over the same period.

Drug giant GlaxoSmithKline posted a rise in revenues ahead of expectations but it was smaller rival Shire, which is due to report on Friday, that saw the best of the upside today after Societe upgraded the stock from hold to buy.

Meanwhile, Reckitt Benckiser headed lower despite Credit Suisse keeping its outperform rating on the stock.

Miners were on the up, with silver miner Fresnillo the top riser, while gold miner Randgold and copper miner Antofagasta also posted strong gains.



THE FTSE 100 closed Up 26 @ 5551

THE DOW JONES at 16:30 Up 45 @ 11751

NASDAQ COMP at 16:30 Down 26 @ 2611

Commodities

Spot Gold $/Oz $1719 Up 0.92% Brent Crude Oil $109.47 Down 1.30%



Exchange Rates

GBP – USD 1.5896 GBP - EURO 1.14887