RAMSEY CROOKALL & CO

14th August 2012

Evening  Report

The FTSE 100 finished up 0.6% at 5864.78, but volumes are extremely low. There are plenty of UK economic data on Wednesday to provide direction.

Life assurance behemoth Standard Life (Up 8.1%) leapt into the top spot after it saw profits rise in the first half after a strong performance in the UK, its biggest market. Operating profit before tax was up 15 per cent with assets under administration three per cent higher than the year before. This has had the added bonus of dragging sector peers Severn Trent and Pennon higher as well. Severn Trent increases 3.4% and Pennon closes up 4.2%.

United Utilities (Up 4.9%) was putting in an impressive performance today on the back of rumours that overseas investor from Canada and the Middle-Easy are eyeing up the company as a break-up candidate. Sector peers Severn Trent and Pennon were also wanted.

Anglo-Swedish drugs colossus AstraZeneca raised earnings guidance a tad after signing a deal with US pharmaceuticals titan Pfizer, pushing shares higher.

Meanwhile, building materials group CRH dropped after poor weather and tough economic conditions in Europe saw earnings slip in the first half of the year. EBITDA fell 1% year-on-year in the six months to June 30th, more or less in line with the company's guidance in May of "close to last year's level".

THE FTSE 100 Closed                  Up 32          @    5,864

THE DOW JONES @ 16.30                Up 38          @    13,207

THE NASDAQ COMP @ 16.30              Up 11          @    3,033

Exchange Rates

GBP – USD     @ 16.30            1.5689 GBP - EURO    @ 16.30            1.2725