RAMSEY CROOKALL & CO
25th May 2011 Afternoon Report
The FTSE 100 is down 0.1%. The banks lead the upside, bouncing off Tuesday's lows.
Meanwhile, basic resources are also higher, helped by stronger base metal prices and
by an upgrade of the sector by Deutsche Bank to overweight. European sovereign debt
concerns continue linger, with Greece the prime concern.
Fashion retailer Next and B&Q owner Kingfisher are among the worst performers. As is
Glencore, which is under the weather on its debut on the top-share index.
On the FTSE 250, Cable & Wireless Communications has taken a tumble after the results
from its first year of independence. Earnings remained virtually static at the telecoms
group, largely as a result of a more difficult Caribbean market than expected.
Valerie Gooding, the former chief executive of health insurance firm BUPA, is to be the
new chairman of Premier Farnell, the electronic and industrial components distributor.
Share are off the mark this morning.
Specialist healthcare company BTG is lower after it swung to a pre-tax loss during the
year ended 31 March, despite revenue rising by 13.1%, as the group reported a 44% rise
in operating expenses.
THE FTSE 100 at 11:55 Up 22 @ 5858
THE DOW JONES closed Down 25 @ 12356
THE NASDAQ COMP closed Down 12 @ 2746
Exchange Rates
GBP – USD 1.6230
GBP - EURO 1.1539
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