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Latest Stock Market Update

by isleofman.com 8th April 2011
RAMSEY CROOKALL & CO

8  APRIL  2011  Evening Report

The FTSE 100 is up 0.8%, due to rising commodity prices propelling basic resource stocks and the index as a whole index forward. Shares in Fresnillo, which mines for silver in Mexico, were higher after silver hit $40 an ounce for the first time since 1980, while gold prices also hit record levels.

Mining giant Rio Tinto has finally managed to get majority control of Australian mining company Riversdale, bringing to an end a bid saga that has been running since Christmas. Rio said its shareholding has passed 50% of coal miner Riversdale, and may grow further as the company’s offer remains open until 20 April. Finally for the mining sector, Indian mining giant Vedanta produced record volumes of metals in the fourth quarter as it sought to benefit from soaring commodity prices

Scottish & Southern Energy has been given a lift after Credit Suisse upgraded the energy supplier from ‘neutral’ to ‘outperform’. The Electricity utility closed up 29p at £13.12. Lamprell was among the best performers today after the oil rig services firm confirmed rumours yesterday that it is in talks to acquire Norwegian peer Maritime Industrial Services.

THE FTSE 100 CLOSED                     UP      48     @      6055  THE DOW JONES  AT 4:45 IS                             DOWN    4   @    12404

THE NASDAQ COMP AT 4:45 IS               DOWN      4      @     2791

Exchange Rates

GBP – USD            1. 6350 GBP - EURO           1.1320







Posted by isleofman.com
Friday 8th, April 2011 05:10pm.

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