RAMSEY CROOKALL & CO

MIDDAY REPORT

19TH NOVEMBER 2010 An early retreat followed losses for the mining heavyweights, though it’s Capita that leads the fallers Friday.

Outsourcing giant Capita yesterday said revenue growth in the second half of 2010 had been subdued due to government cuts in public spending.

Rio Tinto, BHP Billiton, Kazakhmys and Anglo American are weaker, as are banks Standard Chartered, Barclays and HSBC as the market awaits news on the possible bailout of Ireland, perhaps worth over €80bn.

Elsewhere, Vedanta Resources has arranged a $6bn financing agreement with a consortium of banks to cover part of the $8.5bn-9.6bn needed to acquire 51-60% of Cairn India. The company is buying 31%-40% and subsidiary Sesa Goa Ltd the remaining 20%. "The financing announced today provides the group with funding flexibility,” explained chairman Anil Agarwal. “A testament to the strength of the Vedanta story,” he said.

Regus, the serviced office specialist, increased revenue slightly during the four months to the end of October, as expected at the time of the interim results in August. Revenues at actual exchange rates rose to £336.5m from £332m a year earlier. The company still thinks now is the best time to invest in growth, with 48 of the 92 centres added so far this year completed since the start of July at a cost of almost £30m. Emerging markets accounted for 58% of them.

THE FTSE 100 AT 12.30 AM IS DOWN 78 @ 5690

THE DOW JONES CLOSED UP 173 @ 11,181 THE NASDAQ COMP CLOSED UP 38 @ 2514

Exchange Rates

GBP – USD 1.60

GBP – EUR 1.17