RAMSEY CROOKALL & CO
EVENING REPORT
16TH NOVEMBER 2010
The FTSE retreated further over the lunch time session with mining stocks largely
responsible for the decline, as metal prices pull back on fears that China will act
to cool down its economy in the interests of reining in inflation.
Antofagasta, Kazakhymys, Fresnillo, Xstrata and Rio Tinto are the major fallers among
the big names of the mining sector while mid-cap operators Hochschild and Petropavlovsk
also got blasted. Rio closed down 209 at 4120
Big employers looking for swanky new offices in central London have pushed occupancy
rates at real estate giant British Land higher during the first half and net asset value
is up over 4%. British Land closed down 23 at 673.
Chip designer Arm was a strong performer after a stunning set of results from German chip
group Infineon, where fiscal fourth-quarter earnings rose to €390m from €11m last year as
revenue soared 55% to €942m.
No-frills airline easyJet said full year profit surged nearly threefold on rising consumer
demand and cheaper fuel. The group also announced it would pay its first dividend in 2012.
THE FTSE 100 CLOSED DOWN 138 @ 5681
THE DOW JONES AT 4.50 PM IS DOWN 204 @ 10,988
THE NASDAQ COMP AT 4.50 PM IS DOWN 42 @ 2471
Exchange Rates
GBP – USD 1.60
GBP – EUR 1.18
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