RAMSEY CROOKALL 23nd August Evening Report

The FTSE 100 closed up 0.7%, off highs but still firmly in the black. G4S is the day's biggest gainer, up 8.5% after a well-received 1H update. ARM Holdings also fared well, ending up 4.5% amid bid speculation.

Despite rising early on, the mining sector closed in the red, led by silver and gold miner Fresnillo. Falling silver and gold prices dented Fresnillo’s share price. Meanwhile, South America-focused copper miner Antofagasta was 1.7% lower despite posting a sharp rise in profits for the six months to 30 June. Fellow FTSE 100 miners Randgold Resources and Vedanta Resources also closed lower.

Shares of John Wood Group rose 4.2% after the firm reported a 25% rise in earnings before interest, tax and amortization to $192 million, lifting its dividend payout and saying market conditions improved during the first half of the year.

Segro was wanted despite the real estate group posting a 56.6% drop in half year pre-tax profit while rental income fell 6.1% as occupier markets recover slowly. Pre-tax profit fell to £64.6m in the six months ended 30 June 2011 from £148.9m the same a year earlier. Net rental income fell to £135.5m during the period from £144.3m before.

Also in property, Persimmon, the house builder, saw underlying profits surge in the first half of 2011 on the back of gross margin gains and a more efficient capital structure. Underlying profit before tax rose 52% to £59.7m in the first half of 2011 from £39.4m last year. Pre-tax profits after goodwill impairment and exceptional items were £60.3m, compared with £101.4m for the first half of 2010, which included a net exceptional credit of £63.6m.

THE FTSE 100 closed Up 34 @ 5129

THE DOW JONES at 16:40 Up 146 @ 11001

NASDAQ COM at 16:40 Up 33 @ 2378 Commodities

Spot Gold $/Oz $1874

Brent Crude Oil $108.77

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