RAMSEY CROOKALL & CO 26th July 2012

Evening Report

The FTSE 100 closed1.4% higher at 5573.16, with comments by ECB President Draghi - that the central bank will do whatever may be necessary to preserve the euro - lending considerable support. Data from the US, particularly durable goods orders and initial jobless claims, have also underpinned support.

Broadcaster ITV rosed after reporting double-digit revenues and profit growth in the first half, as its 'Transformation Plan' "continues to gain momentum", according to CEO Adam Crozier.

Power systems group Rolls-Royce advanced after saying that underlying revenues and pre-tax profits rose 5% and 7% in the first half, respectively, and said it expects "good" growth for the full year.

Intertek, the international provider of quality and safety services, also gained after it delivered soaring revenues and strong profit growth in the six months to the end of June.

Consumer products firm Unilever jumped after turnover increased 11.5% in the first six months of the year. CEO Paul Polman said that the group is continuing to deliver volume growth ahead of its markets and gained value share across the majority of the business.

Publishing group Reed Elsevier rose after underlying revenues grew 5% in the first half, with all five business areas showing growth.

Catering firm Compass also rose after delivering a "good" performance in the third quarter, as strong growth in North America and emerging markets offset weakness in Europe.

Meanwhile, oil major Royal Dutch Shell lead the fallers after second-quarter earnings dropped from $8bn to $6bn in the second quarter, as profits have tracked energy prices lower. Real estate investment trust Capital Shopping Centres Group (CSCG) fell after reporting a 2.3% LFL decline in net rental income in the first half.

THE FTSE 100             closed      Up        74     @    5,573 THE DOW JONES            @ 17:00     Up        163    @     12839 THE NASDAQ               @ 17:00     Up        25    @      2880 Exchange Rates GBP – USD        @      17:00                1.5683 GBP - EURO      @      17:00                1.2769