RAMSEY CROOKALL & CO
28 MARCH 2011 EVENING REPORT
The FTSE 100 finished the morning clinging on to positive territory and not much changed over
the lunch time trading session, with a mildly firmer start on Wall Street providing little
additional impetus.
Worries that Japanese carmakers may have to suspend production at their plants in China following
the earthquake disruption sent copper prices lower. As a result, Kazakh copper group Kazakhmys
was the worst performing blue-chip.
Tullow Oil has found oil at the Teak-2 exploration well in the West Cape Three Points licence
offshore Ghana. The Irish oil company, which has a 23% stake in the licence, discovered 27 metres
of net hydrocarbon bearing Campanian and Turonian reservoirs at the well, drilled between the
Jubilee field and Teak-1 discovery.
Elsewhere, Irn-Bru and Tizer maker AG Barr was fizzing today after saw profit on ordinary activities
before tax and exceptional items increase by 13.3% to £31.6m in the 12 months to 29 January from
£27.9m the year before. The company saw strong growth from all core brands in all channels.
Growth in its business to business titles helped lift Daily Mail Group’s underlying revenues by 5%
over the past five months, though it was another tough period for regional paper arm Northcliffe.
THE FTSE 100 CLOSED UP 3 @ 5904
THE DOW JONES AT 4.40 IS UP 15 @ 12,234
THE NASDAQ COMP AT 4.40 IS UP 5 @ 2748
Exchange Rates
GBP – USD 1.6022
GBP - EURO 1.1359
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