RAMSEY CROOKALL & CO

MORNING REPORT 16 February 2011

London shares have pushed on strongly despite a lukewarm response to blockbusting results from mining titan BHP Billiton.

Rocketing commodity prices meant record profits for BHP Billiton in the first half, bankrolling a huge investment programme and share buyback scheme. Profit attributable to shareholders jumped 71.5% to US$10.5bn (£6.5bn) on revenue up 39% to $34.2bn. The group announced an ambitious investment programme that’s expected to top $80bn over five years, and a $10bn share buyback programme, expected to complete by the end of 2011,

Elsewhere, trading at specialist chocolate retailer Thorntons has turned down since January with trading through its High Street stores described as weak. "As a result the board is now more cautious about Own Store trading for the remainder of the current financial year and including the important trading periods of Mothers' Day and Easter," chairman John von Spreckelsen said.

Finally, corporate travel services firm Hogg Robinson said full year profit is expected to be slightly ahead of expectations, despite travel disruption caused by freezing weather conditions, as businesses increase travel budgets. The group issued an upbeat outlook as the group benefits from a recovery in corporate travel budgets as firms lift executive travel bans imposed during the financial crisis

THE FTSE 100 AT 10.15 IS UP 28 @ 6065

THE DOW JONES CLOSED DOWN 41 @ 12,226

THE NASDAQ COMP CLOSED DOWN 3 @ 2381

Exchange Rates

GBP – USD 1.6158 GBP - EURO 1.1913