RAMSEY CROOKALL & CO

EVENING REPORT

12TH NOVEMBER 2010

Considering mining shares are down the FTSE, though lower on the day, is faring reasonably well, after a lunch time session that saw share prices move sideways.

Miners are big fallers on disappointment with the outcome at the G20 meeting and the possibility of a currency free-for-all. Talk that China is about to hike its interest rates has also hit metals prices sending Xstrata, Antofagasta, ENRC and BHP Billiton are all under lower, as is Lonmin ahead of results on Monday.

Aero-engine maker Rolls-Royce went well over the afternoon despite warning that solving the problems on its Trent 900 engine will mean it making less money than expected in 2010.

Centrica is also higher after the British Gas owner said it will raise householders’ gas and electricity bills by an average of 7% from 10 December. With the season of price rises for utilities underway the likes of Scottish & Southern Energy, National Grid and Severn Trent also attract buying interest.

Housebuilder and contractor Kier's construction businesses are offsetting a slow start to its homes arm as the housing market struggles, while Hornby is making “ encouraging progress” and the toy company that owns the Corgi and Airfix brands says its new Scalextric range is selling like hot cakes in the run up to Christmas.

THE FTSE 100 CLOSED DOWN 18 @ 5796

THE DOW JONES AT 5.00PM IS DOWN 89 @ 11,193 THE NASDAQ COMP AT 5.00PM IS DOWN 23 @ 2532

Exchange Rates

GBP – USD 1.61

GBP – EUR 1.17