RAMSEY CROOKALL & CO

EVENING REPORT

18TH NOVEMBER 2010

A positive start by Wall Street gave renewed impetus to FTSE rise this afternoon. As in Europe, stocks rose in the US on the hope that a package to take the steam out of the Irish debt crisis is imminent.

Patrick Honohan, the head of Ireland’s central bank, has confirmed a loan is likely with brokers suggesting it could be as much as €85bn, including €20bn to provide support for the country's beleaguered banks, Bank of Ireland, Allied Irish and Anglo Irish.

In company news, shareholders raised glasses to brewing giant SABMiller after a strong performance in all regions but Europe helped it post a rise in profits in the half year to September 30. Pre-tax profits at the brewer of famous brands such as Miller and Peroni climbed to $1.69bn (£1.06bn) from $1.5bn over the same period the previous year as revenues rose to $9.43bn from $8.84bn.

Engineering and project management company AMEC is also going well after it won a double-headed contract from ConocoPhillips for oilfield services in the North Sea.

Anglo-Dutch publishing giant Reed Elsevier is trading much the same as it did in the first half, with subscription revenues constrained, and advertising, promotion and other cyclical markets continuing to stabilise.

Halfords pedaled forward after the bike and car part retailer’s results. The company reported a healthy rise in sales and profits in the 26 weeks to 1 October, but trading remains tough, with like-for-like sales under pressure.

THE FTSE 100 CLOSED UP 76 @ 5768

THE DOW JONES AT 4.45 PM IS UP 172 @ 11,180 THE NASDAQ COMP AT 4.45 PM IS UP 44 @ 2520

Exchange Rates

GBP – USD 1.59

GBP – EUR 1.17