RAMSEY CROOKALL & CO
15 APRIL 2011 Evening Report
The FTSE 100 closed up 0.5% , edging higher following a better than expected University
of Michigan consumer sentiment survey in the U.S. The survey hit 69.6 in April, compared
with 67.5 for March. Separately, U.S. industrial production rose by 0.8% in March from an
upward revised 0.1% increase in February, confirming a better picture for U.S. manufacturing
activity.
The banking sector closed lower today as sentiment soured after credit rating agency Moody’s
cut its rating for Ireland’s sovereign debt by two levels to Baa3 from Baa1, while retaining
its negative outlook. RBS, Lloyds and Barclays are among the worst performers.
Also in the red were the blue chip miners Vedanta, BHP Billiton, Xstrata, Rio Tinto and Kazakhmys.
Jordan-based Hikma Pharmaceuticals has entered into a strategic partnership with the Indian
pharmaceutical company Unimark Remedies. Hikma is paying $33.3m to take a minority stake in privately
held Unimark, one of India's leading manufacturers of active pharmaceutical ingredients (API)
and API intermediates.
Household products group Reckitt Benckiser closed higher, attempting to recover from yesterday’s s
ell-off following the departure of its chief executive yesterday. Reckitt Benckiser closed up
2.72% at £32.00.
THE FTSE 100 CLOSED Up 46 @ 5996
THE DOW JONES AT 4:45 IS Up 40 @ 12324
THE NASDAQ COMP AT 4:45 IS Flat @ 2761
Exchange Rates
GBP – USD 1. 6320
GBP - EURO 1.1297
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