RAMSEY CROOKALL & CO

21st  June 2011 Evening Report

The FTSE 100 finished up 1.4%, ending firmly higher. Whitbread was the biggest gainer, finishing up 6.9% after a well-received trading update. Basic resources and oil stocks are also higher, with investors taking advantage of recent declines to pick up some well- priced stocks. On the downside, SABMiller finished down 3.6% after its bid for Foster's Group is rejected.

Strong sales growth at Costa coffee shops helped hotel and restaurant group Whitbread to offset subdued activity in its restaurant division to grow total sales by 9.2% in first quarter. Shares have jumped by 7%.

Mining stocks were on the rise, as copper, gold and silver futures headed higher. Kazakhmys, Antofgasta and Lonmin were among the top ten risers.

Sector peer Rio Tinto was also firmer following its notice that it is to raise its stake in Toronto- and New York-listed Ivanhoe Mines after exercising its remaining warrants for the ongoing development of the copper and gold Oyu Tolgoi project in southern Mongolia.

Oil giant BP headed higher after tying up another loose end relating to disputes over who should carry the can for the Deepwater Horizon tragedy in the Gulf of Mexico last year by coming to a settlement with US contractor Weatherford. Rising oil prices are sure to be helping the share price also, with Petrofac making solid gains.

Journeying the other way was brewing giant SABMiller after its £7.30bn offer for Australian rival Foster's Group was rejected by the Foster's board, as it "believes that the proposal significantly undervalues the company."

THE FTSE 100 closed                          Up              81            @     5775

THE DOW JONES at 4:45                         Up              112           @    12193

THE NASDAQ COMP at 4:45                   Up             48            @    2678   Exchange Rates GBP – USD         `   1.6231 GBP - EURO         1.1274