RAMSEY CROOKALL & CO
MIDDAY REPORT
30 NOVEMBER 2010
The FTSE 100 has recovered some of yesterday's losses in early dealings after Wall Street perked
up near the end of the US trading day.
Trading is subdued even so, with travelling disrupted by the weather and little company news about.
Miners African Barrick and Rio Tinto are still in demand after yesterday's bullish trading updates.
African Barrick has found more gold in Tanzania, while Rio is upping its capital spend programme to
meet what it expects to be strong demand for years to come.
British Airways is lower on the threat of industrial action hitting the New Year holiday period and
extending into 2011.
Elsewhere, Birmingham City Council has extended and expanded its existing contract with outsourcing
titan Capita in a deal worth about £300m to Capita.
An increase in net new business helped fund manager Aberdeen Asset chalk up a meaty profit rise last
year as it took 'full advantage' of the stock market revival. Underlying profits in the year to
September rose to £210 m from £85.1m, on revenues of £639m against £422m. Funds under management rose
to £178.7bn.
Tile and flooring specialist Topps Tiles posted higher profits in the year to October 2 as sales
recovered and said it is confident in spite of subdued consumer confidence. On a like-for-like basis,
sales increased by 1.7%, against a 13.1% fall the previous year.
Finally, sensor technology group Halma saw increased revenue and profit in all three of its divisions
in the 26 weeks to 2 October. Group revenue rose 12% to £249.1m from £222.1m at the interim stage
last year. Organic revenue growth on a constant currency basis was 10%.
THE FTSE 100 AT NOON IS UP 4 @ 5555
THE DOW JONES CLOSED DOWN 39 @ 11,052
THE NASDAQ COMP CLOSED DOWN 9 @ 2525
Exchange Rates
GBP – USD 1.5525
GBP – EUR 1.192
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