RAMSEY CROOKALL

DAILY   REPORT

9   MARCH  2010


Disappointing UK trade figures knocked the FTSE 100 
early with little help likely from the US as futures 
pointed to a weak start on Wall Street.

Data from the Office of National Statistics showed 
the UK’s deficit on trade in goods widened to £7.99 
billion from £7.01 billion the previous month, about 
£1 billion more than economists had predicted.

Antofagasta has also slipped back, though not so far 
as some of its mining peers such as Kazakhmys and 
Rio Tinto.  Lower copper prices hit Chile – based  
miner and railway owner’s earnings last year.  Net 
earnings fell to $668  million compared with  $843 
million in 2008.  Copper production was 442,500 tonnes 
ahead of the original forecast.

Banks are out of favour after rating’s agency Moody’s 
said it may downgrade the ratings of some UK lenders 
after the government removes support for the banking 
sector.  Although Moody’s did not name which banks it 
had in mind for a downgrade, the two part-nationalised  
lenders, Royal Bank of Scotland and Lloyds Banking are 
regarded as the most likely suspects.

Car dealer Lookers said full year profit increased by 
£26.4 million after a strong performance from its parts 
division.  Adjusted profit before  tax for the year 
ended 31 December 2009 increased by 102% to £28.3 million.

Aer Lingus said operating losses quadrupled in 2009, 
though the Irish airline made a profit in the second 
half of the year.   Operating losses, before exceptional  items, 
widened to  €81 million from €20 million last year.



THE  FTSE 100 WAS							down	4  @  5602

WALL STREET THE LATEST DOW JONES WAS				up	21  @  10,574

NASDAQ WAS								up	 11  @   2344
and that was today’s Ramsey Crookall & Co’s market report.