RAMSEY CROOKALL & CO
14 MARCH 2011 MIDDAY REPORT
The FTSE 100 is down around 0.2%, slipping back into the red, with U.S.
stock futures adding pressure by pushing lower as markets continue to
react to Friday's quake and tsunami in Japan. Traders say investors are
now assessing the likely impact on stocks in London.
Burberry is down 5.3%, with Japan a major world market for luxury goods,
says IG Index. At the other end of the scale, temporary power supplier
Aggreko is up 5.8%, on expectations that the group may be able to assist
with Japan's recovery from the disaster. Eyes now turn to Wall Street's
open at 1330 GMT to see how U.S. stocks react.
Elsewhere in the insurance sector Aviva and RSA Insurance are both off the
pace.
The dangers associated with nuclear power stations seems to have persuaded
the market to reassess the merits of coal fired power stations, judging by
the demand for shares in power station operator Drax Group.
Finally, Housebuilder Bovis Homes didn’t disappoint with full-year results
towards the top end of forecasts, a first dividend since 2008, and an “encouraging”
start to the current year. It made a pre-tax profit of £18.5m, up from £7.5m
in 2009, driven by higher volumes, price increases and cost cutting. Revenue
rose to £298.6m from £281.5m last time.
THE FTSE 100 AT 12:00 IS DOWN 21 @ 5807
THE DOW JONES CLOSED UP 59 @ 12,044
THE NASDAQ COMP CLOSED UP 14 @ 2715
Exchange Rates
GBP – USD 1.6104
GBP - EURO 1.1537
Monday 14th, March 2011 12:10pm.
