RAMSEY CROOKALL

11th  August

Evening Report

The FTSE 100 closes 3.1% higher, boosted by news reports suggesting a Europe-wide ban of 'naked' short-selling would be imposed after the close. There has been no official corroboration of these reports. Once again the day is marked by violent swings between positive and negative territory. Banks, the focus of much of the session, finish firmly in the green, with HSBC Holdings up 3.8% and Barclays up over 8% .

Shares of Essar Energy PLC were among the top performers on the benchmark index. The stock rose 3.7% as it partially recovered from a fall of nearly 13% in the previous session, when Goldman Sachs removed the stock from its conviction buy list.

Mining stocks, which were firm throughout the day,  closed higher with Antofagasta gaining 6.5%. and BHP Billiton up 5.4%. Gold miner Randgold Resources felt the effects of the price of gold dropping more than 1% following recent record highs.

THE FTSE 100 closed                  Up 155 @ 5162             

THE DOW JONES at 17:00                  Up      274      @       10993                         NASDAQ COM at 17:00                     Up      69       @       2450                                 Commodities

Spot Gold $/Oz           $1754

Brent Crude Oil          $106.32 September Delivery   

Exchange Rates GBP – USD           1.6226 GBP - EURO          1.1402