RAMSEY CROOKALL

30th  September 2011

Afternoon Report

The FTSE 100 is down 1.8%, continuing to slide as concerns about China, the world's second-largest economy weigh. Mining stocks slide, with Kazakhmys off 3.4%, while Anglo American slips 3.4% amid fears that strong demand may soon be on the wane. At the same time the euro-zone debt crisis remains in focus. On the data front, U.S. personal income and spending numbers are due, and Chicago PMI readings and University of Michigan sentiment come shortly before the US open.

Shares in Burberry have dropped 5.4%. The losses came on top of a fall of more than 8% yesterday amid worries about the economic situation in China, which is a major market for luxury-goods firms. Shares in Burberry have tumbled by more than 23% from a peak in mid September.

ARM ,the Chip designer was another decliner, dropping 3.00%. The fall came after memory-chip maker Micron Technology Inc. said late Thursday that it swung to a net loss in its fiscal fourth quarter as margins shrank.

Imperial Tobacco Group PLC edged up, adding 1.24% after the company said Malcolm Wyman, a former chief financial officer at SABMiller PLC will join the cigarette maker as an independent, non-executive director.

THE FTSE 100 at 12:00                           Down      93        @         5103 THE DOW JONES closed                            Up        143        @         11153                   NASDAQ COMP closed                              Down      10         @         2480               Commodities Spot Gold $/Oz           $1619                  Up          0.30 % Brent Crude Oil          $103.23                Down        1.22% September Delivery     Exchange Rates GBP – USD           1.5590 GBP - EURO          1.1554