RAMSEY CROOKALL & CO 25th September 2012

Evening Report

The FTSE 100 closed up 0.3%, pushing higher after better-than-expected US consumer confidence data.

Standard Chartered fell 1.5% following reports that Temasek has sounded out potential buyers for its stake in the Diageo announced that it is in talks with United Spirits Ltd and its parent United Breweries Holdings Ltd to acquire a stake in the Indian spirits group, as the U.K.-based liquor giant continues its aggressive drive to expand its footprint in lucrative fast-growing emerging markets.

Cairn Energy aims to raise about $940 million by selling part of its stake in Cairn India Ltd. on Tuesday, according to a term sheet seen by Dow Jones Newswires.

Miner Xstrata said Tuesday that ore production has started ahead of schedule at Xstrata Zinc's A$303 million (U.S.$296 million) Lady Loretta mine in north-west Queensland, Australia.

Royal Bank of Scotland Group Chief Executive Stephen Hester said the 81% state-owned bank is close to exiting a costly insurance plan that helped keep it afloat in the financial crisis, and that it should be strong enough for the government to start selling down its shares from 2014.

Glencore International has entered into a new transaction under which the giant commodities company will purchase a smaller stake in Kazakhstan's largest integrated zinc producer, Kazzinc, from partner Verny Capital in a deal that involves less cash.

Newspaper publisher Daily Mail and General Trust has said that in the 11 months to the end of August underlying revenue was up by 3%, with B2B, or business to business publications up by 8% on an underlying basis, adding that it expects an outcome for the year in line with market expectations.

THE FTSE 100             Closed             Up         20          @      5859 THE DOW JONES            @   17:00          Up         35          @     13594 THE NASDAQ               @   17:00         Up         11       @      3172

Exchange Rates GBP – USD        @       10:00                   1.6231 GBP - EURO       @       10:00                   1.2539