RAMSEY CROOKALL & CO
1st June 2011 Afternoon Report
The FTSE 100 is down 0.2%, off session lows though still in the red. Companies going ex-dividend
have taken points off the blue-chip index. Looking ahead to the U.S. session, the ADP employment
data will garner some attention.
Plumber's merchant Wolseley has taken a hit after it saw like for like (LFL) revenue growth of 6%
in its third quarter. This represents a slow-down from the LFL growth rate of 7% in the first quarter.
Anglo-Australian mining giant BHP Billiton has scored a $580m victory against the tax man in the
Australian High Court. The dispute concerned the claw-back of capital allowance deductions claimed
by BHP Billiton for the ill-starred Port Hedland plant,
Drugs company AstraZeneca is edging higher after Health Canada approved Brilinta, its ticagrelor
tablet product, for the secondary prevention of atherothrombotic events in patients with acute
coronary syndromes.
Cruise operator Carnival has placed an order for a massive 141,000-ton, 3,611-passenger cruise ship,
set to be the largest in its P&O Cruises fleet.
An initial assessment of the recently-purchased Booysendal South property has led Aquarius Platinum
to raise its production expectations at its Everest mine in South Africa.
THE FTSE 100 at 12:00 Down 10 @ 5979
THE DOW JONES closed Up 128 @ 12569
THE NASDAQ COMP closed Up 38 @ 2835
Exchange Rates
GBP – USD 1.6496
GBP - EURO 1.1434
Wednesday 1st, June 2011 01:10pm.
