RAMSEY CROOKALL & CO
7 APRIL 2011 Evening Report
The FTSE 100 closed 0.39% lower due to news of a 7.4% magnitude earthquake in North
Japan which effected both the US and UK markets. Heavily weighted mining stocks were
the worst effected with Vedanta down 2.6% and Antofagasta 1.1% lower.
The Bank of England’s announcement removed all doubt about its current focus, the health
of the economy, and kept its key lending rate unchanged. The European Central Bank stuck
to its script this afternoon and raised its key lending rate by a quarter of a point,
as expected.
Strength in the banking sector offset retail weakness. RBS, Lloyds, HSBC. Standard
Chartered and Barclays posted gains following news that two of their European peers,
Italy's Intesa Sanpaolo and Germany's Commerzbank, are planning to raise funds. Standard
Chartered closed up 6.5 pence at £16.865.
Elsewhere, AstraZeneca has received approval from the US Food and Drug Administration
(FDA) for its thyroid cancer treatment Vandetanib.
Finally, Oil rig services group Lamprell has confirmed rumours that it is in talks to
acquire Norwegian peer Maritime Industrial Services (MIS), pressuring shares lower on
Thursday afternoon.
THE FTSE 100 CLOSED DOWN 34 @ 6007
THE DOW JONES AT 4:45 IS DOWN 85 @ 12341
THE NASDAQ COMP AT 4:45 IS DOWN 4 @ 2795
Exchange Rates
GBP – USD 1. 6303
GBP - EURO 1.1415
Researching your Manx family history can be a very interesting and rewarding hobby. Trace your roots in the Isle of Man with our helpful of guide.
