RAMSEY CROOKALL
29th June 2011
Evening Report
The FTSE 100 closed 1.5% higher a, moving back toward session highs in the last
hours of the trading day. The index pared gains after the result of the Athens
austerity vote, as a win by the Greek government had already been priced in.
Meanwhile, U.K. retailers ended lower on continuing evidence of a downbeat consumer
environment. On the upside, ITV closed 6.6% higher on takeover speculation, whilst
ICAP was the performer of the day, gaining 9%. Tomorrow, a second Greek vote on the
implementation of austerity measures takes place.
Antofagasta led the miners higher as metals prices continued to rise. Eurasian
Natural Resources Corp, Kazakhmys and Xstrata were also in demand.
Pharmaceuticals giant Shire edged higher as Panmure Gordon hiked its target price
on the stock by 25% after increasing its forecasts for its Firazyr drug following
its recommended approval by US regulators.
It has been a busy June for new orders for Rolls-Royce. Rolls Royce have won another
contract, this time from Singapore Airlines. The shares closed higher.
THE FTSE 100 closed Up 89 @ 5855
THE DOW JONES at 4:45 Up 61 @ 12249
THE NASDAQ COMP at 4:45 Up 10 @ 2740
Exchange Rates
GBP – USD 1.6067
GBP - EURO 1.1139
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