RAMSEY CROOKALL & CO

03 May 2011 Afternoon Report

The FTSE 100 is currently trading down 1% extending losses due to lower commodity prices weighing on the miners. The market is demonstrating how it is at the mercy of the global economy today, with a strong showing from the retail sector failing to offset weakness in the miners. Next is higher after warm weather and the royal wedding holiday had shoppers flocking to its stores in the 13 weeks to 30 April, the fashion retailer said as it reported better sales than expected for the period. Kazakh copper producer Kazakhmys says it is on track to meet 2011 production targets after a strong first quarter in which commodity prices remained firm. The company produced 74,000 tonnes of copper cathode in the three months to 31 March and is set to achieve its aim of producing 300,000 tonnes over the full year Engineering solutions provider Weir Group is lower even after it said it expects full year profit before tax and intangibles amortisation to be around £20m ahead of its previous expectations following a strong first quarter. Glasgow-based Weir Group said a record opening order book and contributions from acquisitions made last year has increased its confidence in achieving further good progress in 2011.

THE FTSE 100 at 11:50        Down 58 @ 6024

THE DOW JONES Closed Flat @    12807

THE NASDAQ COMP Closed Down 22 @     2841

Exchange Rates

GBP – USD           1.6503 GBP - EURO         1.1112