RAMSEY CROOKALL & CO
12 APRIL 2011 Evening Report
The FTSE 100 closed down almost 1.5%. The market throughout the day was weak as Japanese
nuclear concerns, poor U.K retail sales data and a sharper-than-expected decline in U.K.
inflation, combined to hurt market sentiment.
Heavily-weighted mining stocks remained the biggest drag on the leading index as base metal
prices slipped. Kazakh pair Kazakhmys and ENRC, South America-focused Antofagasta and global
titan Rio Tinto were amongst the worst hit in the sector.
The IMF announced today that economic growth should slow this year, pushing oil prices lower.
The announcement weighed on energy stocks, BG Group ended down 3.6% and Essar Energy down 3.3%.
However, the lower oil price has lifted British Airways owner IAG and budget airline easyJet.
Cruise operator Carnival is also buoyant.
Ultra Electronics is on the attack after the defence electronics supplier won a contract worth
about $25m (£15m) to supply the US Navy with sonobuoys, which detect submarines.
THE FTSE 100 CLOSED DOWN 84 @ 5969
THE DOW JONES AT 4:55 IS DOWN 124 @ 12256
THE NASDAQ COMP AT 4:55 IS DOWN 27 @ 2744
Exchange Rates
GBP – USD 1. 6252
GBP - EURO 1.1246
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