RAMSEY CROOKALL & CO
6 APRIL 2011 MORNING REPORT
The FTSE 100 is currently trading up 0.15% as investors took heart in possible signs of
growth within the retail sector.
High street stalwart M&S saw a sharp drop in like-for-like sales of clothes and other
non-food items in the 13 weeks to 2 April, though the fall wasn't as severe as expected
and overall sales growth was maintained. General merchandise sales were down by 3.4% from
the same period last year, which was not as bad as some analysts estimates of a more than
5% decline. Food sales were up by 3.4% on a like-for-like basis, resulting in overall
like-for-like sales growth of 0.1%.
The shares are higher, as are those in rival retailers such as fashion chain Next, department
store Debenhams and supermarket Tesco.
Financial software provider Misys is wanted after it reported a 7% rise in year on year
revenue in the third quarter ended 28 February 2011, following strong demand for its products,
and said it was poised to meet medium-term targets. Revenue during the third quarter rose
to £85m while year to date the figure rose 2%. Order intake rose 34% to £49m and 13% year
to date.
The squeezed British consumer still has enough cash to spare for inexpensive meals out,
judging by Italian restaurant chain Prezzo’s full-year results. Adjusted pre-tax profits
in the 53 weeks to 2 January were up by 12% from the previous year to £14.4m on revenues
that climbed by 15% to £104.8m
Norwegian Airlines has ordered its first ever Rolls-Royce engines. Norwegian has selected
Rolls-Royce’s Trent 100 engines to power nine Boeing 787 Dreamliner aircraft. The airline
has also signed a $450m Rolls-Royce TotalCare long-term engine services contract.
THE FTSE 100 AT 9:30 UP 8 @ 6015
THE DOW JONES CLOSED DOWN 6 @ 12,415
THE NASDAQ COMP CLOSED UP 2 @ 2799
Exchange Rates
GBP – USD 1.6294
GBP - EURO 1.1395
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.
