RAMSEY CROOKALL & CO
15 APRIL 2011 Morning Report
The FTSE 100 opened confidently higher after Wall Street bounced back late Thursday,
however, the index is currently trading flat. There seems to be a degree of caution
ahead of some key inflation data due on both sides of the Atlantic Friday, with euro-zone
harmonized CPI and U.S. CPI both to be announced today.
Inflation is set to be the story of the day, after Chinese data showed the consumer-price
index rose more than expected in March. The CPI rose 5.4% from a year earlier in March,
above the 4.9% rise in February. March's inflation rate was the fastest since July 2008.
Economists had expected a 5.3% rate.
Outsourcing firm The Capita Group has acquired Right Document Solutions Holdings for a
consideration of £30m on a cash-free, debt free basis, plus a deferred consideration of up
to £10m. RDS provides document consultancy and managed print services through long term
contracts with a range of public and private sector clients.
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.
THE FTSE 100 AT 9:35 Up 3 @ 5967
THE DOW JONES CLOSED Up 14 @ 12285
THE NASDAQ COMP CLOSED Down 1 @ 2760
Exchange Rates
GBP – USD 1.6343
GBP - EURO 1.1313
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