RAMSEY CROOKALL & CO
10th May 2011 Afternoon Report
The FTSE 100 is up 1.2%, rebounding following Monday's losses to post strong
gains. A stronger mining sector on firmer metal prices and positive Chinese
trade data, together with a slew of upbeat trading reports from leading blue-
chips, has helped to firm the tone. An easing of sovereign debt worries on
hopes that Greece will receive a package of EUR60 billion in financial aid
covering has also helped sentiment.
Imperial Tobacco is another FTSE 100 constituent posting good gains. The
company behind cigarette brands such as Davidoff and Gauloises and Golden
Virginia tobacco posted earnings growth ahead of expectations in the half year
to 31 March as growth in emerging markets drove sales higher.
Oil and gas group BG Group is lower after it became the latest to report the
impact of higher taxes on North Sea oil production, saying they have reduced
its first quarter earnings by $265m (£162m) and will impact production over
the full year
Pace has fallen sharply after the set-top box maker lowered its full-year
profits guidance. The shares are down more than 40% after it said the board
now expects operating profit to be in the range of $150m to $170m (£97m -
£110m) after the group battled against a number of factors which affected
profitability and margins in the first quarter.
THE FTSE 100 at 12:00 Up 74 @ 6017
THE DOW JONES Closed Up 45 @ 12684
THE NASDAQ COMP at Closed Up 15 @ 2843
Exchange Rates
GBP – USD 1.6337
GBP - EURO 1.1394
Researching your Manx family history can be a very interesting and rewarding hobby. Trace your roots in the Isle of Man with our helpful of guide.
