RAMSEY CROOKALL & CO
25 MARCH 2011 MIDDAY REPORT
The FTSE 100 is higher, up 0.25%, however BP is weighing on the index.
Retailers, who had an impressive run yesterday encountered some profit taking.
Yesterday's big news about the blocking of BP’s $16bn joint venture with Rosneft
came too late to be reflected in the share price performance last night, but the
shares are slipping back as the UK firm looks for a compromise.
African Barrick Gold has had further successes with its drilling programme on
the Nyanzaga project in Tanzania. Infill drilling continues to show good continuity
of gold mineralisation throughout the Tusker deposit with further wide zones
encountered on several sections.
Euromoney Institutional Investor, the business publisher and exhibitions organiser,
is trading in line with expectations and will make at least £40m in the half-year
to 31 March. “Sales trends over the past three months have been broadly positive,
particularly for the events businesses for which the third quarter is the most
important of the year,” the firm said Friday.
Finally, Canary Wharf owner Songbird Estates’s recovery continued in the second
half of last year as property values picked up and occupancy rose to 97.1%.
THE FTSE 100 AT NOON IS UP 6 @ 5887
THE DOW JONES CLOSED UP 84 @ 12,170
THE NASDAQ COMP CLOSED UP 38 @ 2736
Exchange Rates
GBP – USD 1.6072
GBP - EURO 1.1350
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