RAMSEY CROOKALL & CO
29 MARCH 2011
EVENING REPORT
The FTSE 100 ended up 0.5% managing a positive close, helped by a rise in the heavily
weighted mining sector.
One of BP’s major shareholders, Standard Life, has told the oil giant to walk away from
its troubled deal with Russian state oil company Rosneft.
BP wants to push ahead with the share-swap that would it buy a 9.5% stake in Rosneft,
taking its holding to 11%, while the Russian group would take 5% of the UK oil giant.
The stock closed down 10p at 466p.
Copper miner Kazakhmys grew earnings by 74% last year thanks to higher metal prices.
Earnings before interest, tax, depreciation and amortisation (EBITDA) excluding special
items jumped to $2.84bn in 2010. That includes $903m from its 26% stake in ENRC.
Finally, building and plumbing supplies giant Wolseley was in demand after it bounced
back into profit and reinstated its dividend as its core markets in Europe and the US
both stabilised. Profits for the half year to January came in at £195m, compared to a
oss of £261m, with trading profits up 64% at £275m. Revenues rose by 5% to £6.6bn.
The interim dividend is 15p.
.
THE FTSE 100 CLOSED UP 27 @ 5932
THE DOW JONES AT 4.40 IS UP 57 @ 12,255
THE NASDAQ COMP AT 4.40 IS UP 18 @ 2749
Exchange Rates
GBP – USD 1.5979
GBP - EURO 1.1344
Tuesday 29th, March 2011 05:10pm.
