RAMSEY CROOKALL
27th June 2011
Evening Report
The FTSE 100 ended 0.4% higher, amid faint positive signs in the Greek financial crisis. BG
Group closed up 2.2% after signing a cooperation agreement with Bank of China allowing for up
to $1.5B of new funding options to support growth. On the data front tomorrow, Germany publishes
CPI data, the U.K. releases 1Q GDP numbers and in the U.S. consumer confidence figures are
announced.
The mining sector has been given a boost by HSBC. Vedanta Resources is being helped higher
after HSBC upgraded the miner to overweight, from neutral. The brokerage is also providing a
slight lift to Antofagasta’s share price, after raising the target price by 100p from 5,500p
to 5,600p. An overweight rating has been maintained.
Anglo American also traded higher after HSBC raised its rating on the stock from neutral to
overweight.
Pharmaceuticals giant AstraZeneca closed down 1.1% despite announcing the positive test results
of its jointly-developed dapagliflozin drug with Bristol-Myers Squibb.
Brewing giant SABMiller closed higher after announcing that Domenic De Lorenzo, who is responsible
for mergers and acquisitions, corporate strategy and development, will join its Group Executive
Committee, effective 1 July.
THE FTSE 100 closed Up 24 @ 5722
THE DOW JONES at 4:45 Up 87 @ 12021
THE NASDAQ COMP at 4:45 Up 24 @ 2677
Exchange Rates
GBP – USD 1.5979
GBP - EURO 1.1199
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