RAMSEY CROOKALL & CO

16th June 2011



Afternoon Report

The FTSE 100 ends down 0.8%, still in the red but off earlier lows after some encouraging U.S. data and as U.S. stock rises. Nevertheless, heavily-weighted miners were a drag amid weak metals prices. Concerns over Greece and the possibility that the country may default intensified today, but there were signs that a resolution would be found.

Autonomy was the worst performer on the blue chip index, losing over 4%. Engineering peers GKN, IMI and Weir were also lower.

The miners closed lower today, as global growth fears dampened metals markets. Lonmin and Kazakhmys are notable fallers.

Worse-than-anticipated retail sales in May hit sentiment in the retail sector. Kingfisher, Marks & Spencer, Tesco, Sainsbury and Morrison all closed in the red.

Consumer products group Unilever headed lower after having to sell off three of its soap brands to keep the Office of Fair Trade happy with its merger with Alberto Culver.

Cairn Energy was unwanted after announcing that its chairman Norman Murray is set to step down from the board at the beginning of July, with current chief executive Sir Bill Gammell moving up to replace him.



THE FTSE 100 closed Down 43 @ 5698

THE DOW JONES at 4:45 Up 67 @ 11968

THE NASDAQ COMP at 4:45 Up 9 @ 2640



Exchange Rates

GBP – USD 1.6130

GBP - EURO 1.1396