RAMSEY CROOKALL & CO
15 APRIL 2011 Afternoon Report
The FTSE 100 is up around 0.3%, inching up a little higher as investors rotate from
cyclical to defensive sectors on worries that China's overheating economy may slow down
global growth. This comes after the country's CPI increased more than expected and 1Q
GDP also surprised on the upside. Cyclicals, such as miners and financial stocks slid
on these fears and defensives such as Imperial tobacco and Unilever have risen.
Debt concerns are in the spotlight once again as Moody’s Investors Services cut its
rating on Irish government bonds, citing the further weakening of the government’s
financial strength.
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.
Looking ahead, U.S. stock futures point to a lower start for Wall Street Friday,
with shares in Google Inc. dropping sharply in premarket trading after the Internet
giant’s first-quarter earnings disappointed investors.
THE FTSE 100 AT 12:00 Up 22 @ 5986
THE DOW JONES CLOSED Up 14 @ 12285
THE NASDAQ COMP CLOSED Down 1 @ 2760
Exchange Rates
GBP – USD 1.6363
GBP - EURO 1.1315
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.
