RAMSEY CROOKALL & CO

EVENING REPORT 25 February 2011

Share prices moved sideways over the lunch time session, but at least they were moving; the London Stock Exchange, which recently switched over to a new computer system, suffered an embarrassing glitch which resulted in the exchange shutting down for most of the morning.

Miners are among the top risers as the outlook for global growth improves. Platinum specialist Lonmin, Kazakh pair Kazakhmys and Eurasian Natural Resources plus Anglo American, Vedanta and Rio Tinto are posting good gains.

Defence firm Cobham has won a contract with US aircraft maker Boeing to provide hose and drogue aerial refuelling systems. The systems will be used on the US Air Force’s new KC-46A tanker aircraft it has ordered from Boeing in a $30bn contract.

Elsewhere, online betting and wagers on gaming machines drove growth in revenue at bookmaker William Hill last year. Net revenue in 2010 grew 7% to £1,071.8m from £997.9m the year before, a touch above market consensus of £1,070m. Profit before tax soared 60% to £193.3m from £120.9m but was below market consensus of £214m.

Revenue and profits at property web site Rightmove came in a shade shy of market expectations, though the results still set new records for the group despite a tough year for the UK housing market.

Revenue in 2010 rose from £64.5m in 2009 to £81.6m in 2010, a bit lower than the £82.2m the market had been expecting. Profit before tax rose from £36.5m to £52.2m, versus expectations of £53.3m.

THE FTSE 100 CLOSED UP 66 @ 6001

THE DOW JONES AT 4.30 IS UP 42 @ 12,110

THE NASDAQ COMP AT 4.30 IS UP 33 @ 2771

Exchange Rates

GBP – USD 1.6077 GBP - EURO 1.1689