RAMSEY CROOKALL & CO
21 APRIL 2011 Evening Report
FTSE 100 slid into the red, down 0.3% due to the Philadelphia Fed business activity
index coming in weaker than forecast. The business index came in at 18.5 in April,
compared with 43.4 in March. Consensus forecasts had been for a reading of 35.
Vodafone lead the declines after an Indian court rules that the company has no right to
contest the tie-up of joint venture partner Essar Telecommunications with India Securities.
Vodafone closed down 3.8% at £1.69.
Retail giant Next was wanted after UBS hiked up its forecasts on a better margin outlook.
Miner Anglo American saw its shares rise after saying that full year copper production is
expected to be marginally higher than 2010 despite copper production falling by 14% in the
first quarter.
Sector peers ENRC, Rio Tinto and Fresnillo were also firmer.
No further data is due in the session and the market will be closed for the next four days
for the Easter weekend.
THE FTSE 100 closed Down 3 @ 6018
THE DOW JONES at 4:55 Up 32 @ 12486
THE NASDAQ COMP at 4:55 Up 14 @ 2817
Exchange Rates
GBP – USD 1.6569
GBP - EURO 1.1360
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