RAMSEY CROOKALL & CO
25 MARCH 2011 EVENING REPORT
Leading shares were mixed after a strong opening prompted traders to bank some
profits at the end of a week which has seen the top share index advance by around
170 points. Broker commentary is behind the share price movements of the Footsie’s
best and worst performers.
Engineer Invensys recovered some of the losses seen yesterday following the abrupt
eparture of its chief executive, Ulf Henriksson. Evolution Securities said the share
price setback represented a great buying opportunity.
Online gaming company 888 said that the Nevada Gaming Commission has approved the
relationship between Dragonfish, 888’s business-to-business arm, and Caesars Interactive
Entertainment. The ruling relates to state law in Nevada that covers Nevada gaming
companies conducting gaming outside the state of Nevada.
That’s probably the reason behind strong interest in the shares of other online gaming
firms today such as Partygaming and Betfair. Elsewhere in the sector online gaming
software specialist Cryptologic was flying after it launched a full strategic review,
which could result in it putting itself up for sale.
Finally, HMV, the entertainment media retailer, had bears rushing to cover their short
positions as it confirmed press speculation that it is exploring strategic options in
respect of Waterstone's and HMV Canada.
THE FTSE 100 CLOSED UP 19 @ 5900
THE DOW JONES AT 4.40 IS UP 69 @ 12,240
THE NASDAQ COMP AT 4.40 IS UP 25 @ 2761
Exchange Rates
GBP – USD 1.6024
GBP - EURO 1.1386
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