RAMSEY CROOKALL & CO

MORNING REPORT

21 SEPTEMBER 2010

The FTSE 100 has opened higher encouraged by yesterday's 145-point surge on Wall Street and some bullish company news.

Online betting exchange Betfair is to take a punt on the market's appetite for new issues and float in London. No pricing details accompanied the statement, but reports recently have suggested the group wants a valuation of up to £1.5bn.

Cairn Energy is the best performer 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.

Royal Bank of Scotland, Barclays and Standard Chartered are the best of a strong bank sector.

Oil services group Wellstream confirmed a number of takeover approaches. Shares in the group have risen by a third since the start of July following more encouraging trading news and appreciation of its presence in the fast developing oil prospects offshore Brazil.

Sports-themed fashion apparel 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 FTSE 100 AT 9.45 IS UP 19 @ 5602

THE DOW JONES CLOSED UP 145 @ 10,753

THE NASDAQ COMP CLOSED UP 40 @ 2355



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