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Latest Stock Market Update

by isleofman.com 5th April 2011
RAMSEY CROOKALL & CO

5 APRIL 2011 EVENING REPORT

The FTSE 100 closed down 0.2% as worries over sovereign debt returned to the fore with Moody’s downgrade of Portuguese debt. Elsewhere in retail, shares in Home Retail Group are higher after some stake- building by US private equity group Madison Dearborn Capital Partners stoked takeover talk.

M&A chatter lifted TUI Travel, the owner of Thomson and other holiday brands. Its parent group, Germany’s TUI AG, is said to be considering selling its stake in the shipping group Hapag-Lloyd.

Shares in EnQuest were higher. The UK-focused oil and gas group said it was “very disappointed” with the government’s decision to increase taxes on North Sea oil firms, though it remains confident of delivering on its 2011 targets. The high oil price and increased production helped push the company’s revenues up to $614.4m in 2010, from $319m the previous year. Pre-tax profits soared to $71.5m from $24.6bn.

Specialist healthcare company BTG said results for the year to end-March will be in line with previously stated guidance. Revenue is expected to fall somewhere in the range of £108m to £114m, with recurring revenue accounting for around £98m to £102m of that.

Online marketing group Asia Digital – which operates through two digital advertising divisions, DGM and AKTIV, saw shares tumble by a quarter on Tuesday after offloading an Australian unit of DGM that accounted for 70% of revenues in 2010.

THE FTSE 100 AT CLOSED DOWN 9 @      6007

THE DOW JONES  AT 4.40 IS UP   15   @      12,415

THE NASDAQ COMP  AT 4.40 IS    UP 10 @    2799

Exchange Rates

GBP – USD            1. 6267 GBP - EURO           1.1440







Posted by isleofman.com
Tuesday 5th, April 2011 05:10pm.

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