RAMSEY CROOKALL & CO May 2nd 2012                                                                                                 Morning Report

The FTSE 100 is down 0.2%, maintaining losses after UK net consumer credit and mortgage approvals data. Lending to UK households rose in March but loans to businesses fell. Standard Chartered said its broad geographic base once again helped it secure a strong start to the year with "high single-digit income growth" in the first quarter. However, it admitted that growth had been hit by the continued strength of the US dollar against Asian currencies. Shares were lower early on.

Sector peers Barclays, Lloyds and RBS were also out of favour following a strain performance the day before.

Insurance group Admiral was a heavy faller early on after going ex-dividend. ARM Holdings, Kingfisher and Xstrata were also trading without the right to their latest dividends.

Broadcaster and broadband group BSkyB was making gains after reporting record nine-month operating profit. Meanwhile, the firm insisted it was 'fit and proper to hold its broadcasting licences' as the fall-out from the News Corporation hacking scandal continues.

Fashion chain Next rose after sticking with full-year guidance given in March after first quarter sales showed a small year-on-year improvement, helped by contributions from new stores.

Shares in oil and gas group BG advanced after it announced the first production from its Margarita gas field in Bolivia.

Fund manager Henderson fell after seeing net outflows in the first quarter of 2012 despite assets under management having grown on the back of the recovery in equities.

THE FTSE 100             @ 10:00        Down       17      @      5,794 THE DOW JONES            closed         Up         65      @     13279 THE NASDAQ               closed        Up          4      @      3050 Exchange Rates

GBP – USD       @      10:00             1.6219 GBP - EURO     @      10:00             1.2318