RAMSEY CROOKALL

18th  August

Evening Report

The FTSE 100 index slumped  4.5% led by heavy losses for mining and financial stocks as fears of a recession and another bank crisis hammered stocks across Europe. Companies most exposed to an economic downturn were the biggest fallers, including banks and commodities-related stocks, though no sector escaped losses.

Shares in Barclays PLC sank 11% and Royal Bank of Scotland Group PLC fell 9.8%, as other European banks also tumbled.

International Power, the power generator that is 70% owned by French utility company GDF Suez, saw its share price take a drop after announcing that it is to expand the Jirau Hydro project, the largest hydro power project currently under construction in the world.

Randgold Resources got an intraday boost after gold moved to a record high, as concern about the global economy prompted another wave of interest in the precious metal. However, the stock closed marginally down 0.38%

Following Australian brewer Foster's rejection of a takeover bid, SABMiller saw its share price drop, on fears that the Grolsch and Nastro Azurro brewer might have to raise its offer price to secure success in its takeover bid. THE FTSE 100 closed              Down          116      @       5215

THE DOW JONES at 16:45           Down         417        @       10992                        NASDAQ COM at 16:45              Down          114        @       2511                               Commoditiest

Gold $/Oz           $1820 Brent Crude Oil     $107.71

September Delivery    Exchange Rates GBP – USD           1.6477 GBP - EURO         1.1508