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
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