RAMSEY CROOKALL & CO
MIDDAY REPORT 31 December 2010
The FTSE 100 is firmly in the red. Moves either way are being exaggerated
by very light volumes, with many traders away from their desks, and those
who are in happy to sit on their hands until the New Year.
U.K. house prices posted a surprise monthly increase at the end of 2010,
a first since May, highlighting that the current downturn in property market
is only a modest one, the Nationwide Building Society said Friday. House prices
rose against expectations in December. Nationwide said the average price of
a home rose by 0.4%, following a 0.3% drop the previous month.
Supermarket retailers remain on the front foot, with Sainsbury up 1.3% and
Morrison up 1.2%. The London market is due to close at 1230 GMT.
In other news, Sahara India Pariwar said it has acquired the iconic Grosvenor
House hotel in London from The Royal Bank of Scotland Group PLC.
Finally,the Industrial & Commercial Bank of China says its profit from
overseas branches will likely total about $1 billion this year, without
specifying whether the view is after or before tax.
THE FTSE 100 CLOSED DOWN 71 @ 5899
THE DOW JONES CLOSED DOWN 15 @ 11,569
THE NASDAQ COMP CLOSED DOWN 1 @ 2662
Exchange Rates
GBP – USD 1.55
GBP – EUR 1.15
Friday 31st, December 2010 01:11pm.
