RAMSEY CROOKALL & CO

EVENING REPORT 9 February 2011

The blue-chip index drifted lower still over the lunchtime session after a lacklustre morning session.

Elsewhere, Cillit Bang and Dettol maker Reckitt Benckiser also weighed on the index after results disappointed. Reckitt enjoyed strong profit growth in 2010 as developing markets offset a decline in Europe, but earnings fell short of expectations and the shares fell.. The company posted a profit before tax for the 12 months of £2.14bn, up 13% from £1.89bn in 2009. Revenue was up 9% at actual exchange rates, or 7% at constant rates, to £8.45bn. Both were a touch below consensus estimates.

Newspaper publisher and exhibitions organiser Daily Mail and General Trust (DMGT) said underlying revenue in the final three months of 2010 was up 5%. "Trading in the first quarter has been in line with our expectations, despite our consumer businesses being hampered by the poor weather in December,” said chief executive Martin Morgan.

Finally, the Caribbean market remains subdued for telecoms group Cable & Wireless Communications but growth elsewhere should ensure results for the full year are broadly in line with market expectations. In the group's third quarter (Oct - Dec) the financial performance of Panama rebounded strongly, while Macau and Monaco & Islands continued to trade well.

THE FTSE 100 CLOSED DOWN 39 @ 6052

THE DOW JONES AT 4.30 IS DOWN 21 @ 12,211

THE NASDAQ COMP AT 4.30 IS DOWN 10 @ 2786

Exchange Rates

GBP – USD 1.60 GBP - EURO 1.17