RAMSEY CROOKALL

19th  September

Evening Report

The FTSE 100 closed down 2% ,with the banking sector sinking on concerns Greece could default on its debt ahead of crisis talks aimed at determining whether the embattled nation gets the next round of much-needed aid.

Lloyds Banking lead the fallers after suffering from such woes as well as announcing that it will wave goodbye to two of its boardroom members, finance director Tim Tookey and Scottish Widows' deputy chairman Lord Sandy Leitch. The move prompted Evolution Securities to reiterate its "buy" recommendation on the banking giant, but investors appeared to ignore the tip as the share price dropped 6%.

A strong demand for safe-bet stocks led investors to Randgold Resources, sending the firm's share price leaping to the top of the risers and nearing its 52-week high. The shares are up more than 32% over the year, as risk-averse shareholders, encouraged by the group's strong second quarter results, warmed to the gold producer's strong balance sheet and minimal debt. 'Imperial Leather' soap maker PZ Cussons said performance in the second half of the year has been in line with expectations, but the company's margins are under threat from rising raw material costs. The shares closed marginally higher, up 0.26%.

Cheese and milk producer Dairy Crest rose in early trading after saying that first half trading was in line and expressing confidence in full-year numbers. However, the stcok pared gains and closed flat over the day.

THE FTSE 100 closed                              Down        103      @      5264 THE DOW JONES at 16:45                           Down        184      @      11324                      NASDAQ COM at 16:45                              Down         28      @      2593               CommoditiesSpot Gold $/Oz           $1782 Brent Crude Oil          $109.64 September Delivery     Exchange Rates GBP – USD           1.5672 GBP - EURO         1.1480