RAMSEY CROOKALL & CO
4 APRIL 2011 EVENING REPORT
The FTSE 100 closed up 0.1%, supported by heavily-weighted mining
stocks, due mainly to firm base metals prices. Fresnillo was up
2.9% and Antofagasta 1.9%. Aggreko was the biggest riser, up 5.3%
after signing a power contract in Japan, however, gains were capped
by worries about this week’s key rate decisions.
It has been a morning for asset sales with both telecoms giant
Vodafone and oil colossus BP pressing on with their respective asset
sale programmes.
Vodafone’s sale of what it considers non-core minority stakes continues
with the sale of its 44% holding in French mobile phone group SFR to
French media group Vivendi for €7.75bn (£6.8bn) in cash. The shares
are higher.
BP is to sell its wholly owned subsidiary ARCO Aluminium to a
consortium of Japanese companies for $680m in cash.
Elsewhere in the oil and gas sector BG Group has made a third gas
discovery in Tanzania. The oil and gas group made the discovery about
18km off southern Tanzania at a depth of about 950 metres. The discovery
is about 200km south of BG’s previously announced Pweza and Chewa
discoveries.
Finally, east Yorkshire-based pork supplier Cranswick said results for
the year to 31 March 2011 will be broadly in line with expectations.
Underlying like-for-like sales for the year to 31 March 2011 increased
by 4% while volumes during the period gained 6% on the same basis.
Underlying sales in the fourth quarter were in line with those of the
previous year. Operating margin was in line with management's expectations.
THE FTSE 100 CLOSED UP 7 @ 6016
THE DOW JONES AT 4.40 IS UP 19 @ 12,396
THE NASDAQ COMP AT 4.40 IS UP 2 @ 2791
Exchange Rates
GBP – USD 1. 6124
GBP - EURO 1.1327
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.
