RAMSEY CROOKALL

30th  September 2011

Morning Report

The FTSE 100 is down 0.8%. Stocks with exposure to China are on the back foot. Meanwhile, euro-zone debt remains in focus, with investors on watch for any comments by politicians on the expanded EFSF fund. Euro-zone data on unemployment and harmonized CPI is due, with U.S. personal income & spending numbers, Chicago PMI readings and University of Michigan sentiment announced before the US open.

Among the worst performers, shares Burberry have dropped 5.0%. 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 2.5%. 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 0.9% 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 10:00       Down 44 @ 5152               

        THE DOW JONES closed        Up         143   @     11153 

                  NASDAQ COMP closed         Down        10   @     2480               Commodities Spot

Gold $/Oz           $1630                 Up       0.90 % Brent Crude Oil     $104.28               Up       0.25% September Delivery   

Exchange Rates

GBP – USD           1.5605 GBP - EURO         1.1522