RAMSEY CROOKALL & CO

EVENING REPORT 13TH DECEMBER 2010

Britain’s top shares gained ground by midday, lifted by miners after ata from China showed there was no let up in it’s booming growth.

Miners provided the main support for Britain’s blue chip index, gaining on the back of strong Chinese industrial output numbers which topped forecasts and sent copper in London to a record high

Kazakh mining group Kazakhmys was the top gainer up 2.4 percent.

Banks which struggled against the backdrop of worries over sovereign debt problems in the Euro zone, were back on the front foot as risk appetite among investors improved. Barclays rose 1.1 percent.

Concerns remained over China’s soaring inflation, which sped to a 28-month high, and showed signs of spreading beyond food prices, putting pressure on the government ratchet up its monetary tightening policy.

“There’s something of a short term relief that China decided not to raise interest rates this time round,” said Richard Hunter, head of equities at Hargreaves Landsdown.

On the macroeconomics front in the UK, British manufacturers’ input costs rose last month at their fastest annual rate since July, ahead of consumer price inflation due on Tuesday.

Elsewhere, British Airways climbed 1.1 percent after the Financial Times reported the airline is discussing changes to its pension scheme rules that would enable it to slash its pension shortfall almost in half.

THE FTSE 100 CLOSED UP 47 @ 5860

THE DOW JONES AT 5.00 PM IS UP 46 @ 11,450

THE NASDAQ COMP AT 5.00 PM IS UP 2 @ 2639

Exchange Rates

GBP – USD 1.58 GBP – EUR 1.18