RAMSEY CROOKALL & CO

EVENING REPORT

22ND NOVEMBER 2010 Footsie closed the day lower as the relief over the EU bail-out of Ireland fades and that US Equity Markets opened in negative territories.

Rolls-Royce has picked up a morale boosting $1.8bn (£1.1bn) engine order from China just weeks after the problems that grounded Airbus A380 super-jumbos around the world.

Defence group Qinetiq has won a $2bn five-year deal to provide engineering services to the Kennedy Space Centre in Florida. The contract, with US space agency NASA, is a cost-plus-award-fee contract to begin next March and will run for five years.

Go-Ahead chief financial officer Nick Swift is swapping trains and buses for planes as he takes up the same position at British Airways, replacing Keith Williams who becomes chief executive of BA when it merges with Spanish peer Iberia.

Mining heavyweight Anglo American has placed its Callide thermal coal mine up for sale. The mine in Central Queensland, a low cost coal producer, will go as part of Anglo’s focus on growing its metallurgical coal and high margin export thermal coal businesses.

Mitie has grown interim profit by 12% and the outsourcing and asset management group is confident of meeting expectations for the full-year and picking up new government work next year. Profit before tax and one-off items was up to £47.5m in the six months to 30 September from £42.3m a year ago on revenue 15% higher at £918.7m.

And estate agent chain Winkworth expects to beat full-year profit forecasts after growing revenue by 20% in the first nine months, but 2011 is expected to be another low volume year, like 2010.

THE FTSE 100 CLOSED DOWN 52 @ 5680

THE DOW JONES AT 5.00 PM IS DOWN 81 @ 11,124 THE NASDAQ COMP AT 5.00 PM IS UNCHANGED @ 2517

Exchange Rates

GBP – USD 1.59 GBP – EUR 1.16