RAMSEY CROOKALL

6th  October 2011

Afternoon Report

The FTSE 100 is up, a touch higher with mining shares leading the gains amid firmer metal prices, while a meaningful pickup in U.S. stock futures also supports the London market. Antofagasta shares up 9.36 % and ENRC up 8.00%. The BOE has kept interest rates low at 0.5% and increased its bond purchasing program (Quantitive easing) from £200bn to £275bn. U.S. initial jobless claims data is due out before the US open.

Global mining giant Xstrata is higher after it said it has secured long-term energy supplies for its North-west Queensland operations in Australia after a two-year selection process.

Engineering firm IMI rose after it confirmed that current trading has been in line with expectations.

WPP, the FTSE 100 advertising and marketing group, rose after agreeing to purchase a large stake in South African consultancy Arcay Communications for an undisclosed sum.

SABMiller shares are up 7.8% at 2229p, amid speculation that Anheuser-Busch InBev is in talks to buy the company for $80 billion.

Bakery chain Greggs served up a 0.8% increase in third quarter like-for-like sales and remains confident in its full year prospects despite the persistently tough retail environment.

THE FTSE 100 at 12:00                 Up             100         @         5202

THE DOW JONES closed                  Up              131        @         10939              NASDAQ COMP closed                    Up              55          @         2460               Commodities Spot Gold $/Oz           $1652       Down        0.65 % Brent Crude Oil          $103        Down        0.71 % September Delivery    Exchange Rates GBP – USD           1.5455 GBP - EURO          1.1578