RAMSEY CROOKALL & CO
11 APRIL 2011 Afternoon Report
Banking stocks are in focus after the Independent Commission on banking issued its
interim report on charges proposed for the sector.
Barclays and RBS are setting the pace in the FTSE 100 due to a positive response to
the ICB report.
Automotive and aerospace engineer GKN is motoring ahead it after it said that its car
operations have been affected by the recent earthquake in Japan, while adding that market
conditions have otherwise been as expected in the first quarter. Sales were up by 14% from
the same period a year ago to £1.49bn, while pre-tax profits rose by more than 50% to £107m.
In the FTSE 250, CPP, the identity theft and credit card insurer that is under investigation
by the Financial Services Authority, is slightly lower after it said that Barclaycard is
conducting a review of CPP's 'call to confirm' offering to Barclaycard customers, during
which time the service will be suspended.
Consumer packaging titan Rexam is to build a new beverage can plant in northern Brazil to
meet burgeoning demand in the Latin American country.
THE FTSE 100 AT 13:00 UP 4 @ 6060
THE DOW JONES CLOSED Down 29 @ 12,380
THE NASDAQ COMP CLOSED Down 15 @ 2780
Exchange Rates
GBP – USD 1. 6350
GBP - EURO 1.1325
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