RAMSEY CROOKALL & CO 25th September 2012

      Morning Report The FTSE 100 is trading flat in early , as investors remain concerned about the latest developments in the euro-zone debt crisis. Standard Chartered is 2.9% lower as the Financial Times reports that Temasek is mulling the sale of a stake in the bank. Data from the British Bankers Association show UK banks cut lending to businesses and households in August.

Mining giant Xstrata announced production had begun ahead of schedule at its Lady Loretta zinc mine in north-west Queensland, Australia. The mine was originally supposed to start production at the end of 2013, but first deliveries of zinc-lead- silver ore to the company's Mount Isa processing plant are now set to begin later this month. Chief Operating Officer of Xstrata Zinc Australia, Brian Hearne, said the project was of significant importance to the firm's production profile.

Finance house Close Bros reported a mixed set of full year results with strong growth in its banking division while difficult trading conditions hurt securities. The group said asset management has mostly completed its restructuring and is now positioned for future profitability. Overall, it believes it is well positioned for the current financial year.

Business publisher and exhibitions firm Euromoney Institutional Investor said trading has been in line with expectations since its last update in late July. As flagged in July, market conditions became noticeably tougher from June, particularly in Europe. As a result, revenues for the fourth quarter are expected to be broadly in line with the same period last year, with growth in subscriptions offset by weakness in advertising and delegate revenues. 

India's United Spirits, along with parent United Breweries Holdings , is in talks with U.K.-based beer and spirits maker Diageo PLC (DGE.LN) to sell a stake in the liquor maker, the companies said Tuesday.

Cairn Energy PLC 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.

Singapore state investment company Temasek Holdings. has sounded out potential buyers for its GBP6 billion ($9.7 billion) stake in Standard Chartered PLC the Financial Times newspaper reported Monday on its website, citing unnamed people close to the situation.

BP PLC's partners in its Russian joint venture are considering making an offer for the entirety of the British energy giant's stake in their shared company, a person close to the Alfa Acess Renova consortium of billionaire investors that control 50% of the TNK-BP venture said Monday.















THE FTSE 100              @ 10:00          Flat          @      5838 THE DOW JONES            closed            Down     20           @     13558 THE NASDAQ               closed            Down     19           @      3160

Exchange Rates GBP – USD        @       10:00                 1.6238 GBP - EURO      @       10:00                 1.2576