RAMSEY CROOKALL & CO

EVENING REPORT

21 SEPTEMBER 2010

The blue-chip index edged a little higher over the lunch time session before moving lower through the afternoon dealings and ahead of the Federal Reserve’s rate decision, due to be announced this evening.

Cairn Energy is one of the best performers after an update of drilling in Greenland. It abandoned one well but added that the presence of both oil and gas confirms an active, working petroleum system in the basin and is extremely encouraging at this very early stage.

Centrica, meanwhile, is one of the weaker stocks in the market today. The company has been engaged in a buying spree, snapping up gas fields in order to secure its supply lines, but the whisper on the street is that the company is contemplating a far bigger purchase in the form of electricity generator International Power. That would put it in a bidding war with French utility giant GDF Suez, which recently agreed to merge parts of its operation with the UK firm.

Elsewhere in the online betting world Sportingbet is the latest gaming firm to settle with the US Department of Justice over illegal internet gambling, clearing the way for it to take part in the wave of industry consolidation currently underway.

And sticking with the sporting theme, retailer JD Sports saw underlying profits before tax surge 36.5% to £19.39m in the 26 weeks to 31 July from £14.2m. Revenue grew 18.5% to £383.9m from £324m. Like for like (LFL) sales rose by 2.8% in the UK and Ireland. The shares have moved 26½p higher to close at 849½p.

THE FTSE 100 CLOSED DOWN 26 @ 5576

THE DOW JONES AT 4.30 IS DOWN 18 @ 10,735

THE NASDAQ COMP AT 4.30 IS DOWN 3 @ 2352



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