RAMSEY CROOKALL & CO
16 MARCH 2011 MORNING REPORT
Hopes of a rally after a bounce in Tokyo overnight have been
dashed by more worrying news from the crippled Fukushima Dai-ichi
nuclear plant.
A fire at the plant's fourth reactor sent radiation levels soaring
and forced what few workers are left battling the potential disaster
to retreat. Japan’s Emperor Akihito made a rare public statement and
said he was “deeply worried” by the situation at the Fukushima Dai-ichi
plant.
InterContinental Hotels’ chief executive Andrew Cosslett shocked the Crowne
Plaza and Holiday Inns chains owner by handing in his notice. Long-serving
Cosslett will stand down on 30 June to be replaced by finance director Richard
Solomons, who has been on the board since 2003. Solomons is also head of Head
of Commercial Development.
Sausage roll fans filed into Greggs in record numbers during 2010, pushing
profits up almost 8%, and like for like sales growth so far in 2011 is double
what it was for all of 2010. The Newcastle-based company, which runs over 1,480
value bakers shops up and down the country, made £52.5m in the 52 weeks to 1
January, a record high and up from £48.8m in 2009.
Finally, fashion retailer French Connection made even more in the 12 months to
31 January than the hefty increase promised at last month’s trading update.
Profit before tax from continuing operations leapt to £7.3m from £0.7m the year
before. It had predicted “at least £6.8m” in February. Sales rose 2% to £205m
THE FTSE 100 AT 10.45 IS DOWN 50 @ 5645
THE DOW JONES CLOSED DOWN 137 @ 11,855
THE NASDAQ COMP CLOSED DOWN 33 @ 2667
Exchange Rates
GBP – USD 1.6091
GBP - EURO 1.1523
Wednesday 16th, March 2011 11:10pm.
