RAMSEY CROOKALL & CO

      13th September 2012

Evening Report

The FTSE 100 ends 0.7% higher at 5819.92.  Rolls-Royce advanced 2.7% after news of a potential tie-up between competitors BAE Systems and EADS. Next slumped 7% on its cautious outlook statement.

The proposed deal between BAE Systems and European Aeronautic Defence & Space Co. has set off a wave of rating changes from leading equity analysts, who also point out that the creation of a new global aerospace defense giant could prompt a series of mergers in the industry.

Royal Bank of Scotland Group may start the sale of its Direct Line insurance company to the public tomorrow, according to people familiar with the deal.

BP has agreed to sell its 18.36% non-operated interest in the Draugen field in the Norwegian Sea to fellow oil group Royal Dutch Shell PLC's (RDSA.LN) AS Norske Shell for 240 million dollars in cash.

High street fashion chain Next said consumer confidence would remain cautious and recent sales have been disappointing, but still reported a rise in first half profit and called for a relaxation in Sunday trading laws.

Lonrho which invests in and develops opportunities across Africa, said Thursday that with immediate effect Chairman, David Lenigas, has stepped down from the Board to concentrate on his role as Executive Chairman of FastJet and other interests.

THE FTSE 100             closed           Up     37        @      5,819 THE DOW JONES            @ 17:00          Up     20        @     13353 THE NASDAQ               @ 17:00          Up     6         @      3120

Exchange Rates GBP – USD        @      17:00                   1.6124 GBP - EURO      @      17:00                   1.2489