RAMSEY CROOKALL & CO

EVENING REPORT

19 AUGUST 2010

Poor US economy figures have pushed markets firmly lower and resource stocks were the worst affected.

Anglo American, Rio Tinto, Fresnillo, Xstrata, Lonmin and Randgold were among the early leaders, but all have either given back a slice of their gains, or sunk into negative territory.

Utilities also find themselves out of favour. United Utilities, Severn Trent, Centrica and Pennon are all down, while yesterday’s star performers testing firm Intertek and satellites outfit Inmarsat, have succumbed to profit taking.

Essar Energy, the Indian energy company that floated in May, ramped up revenue by 66% in the half year to June 30,though profits fell due to higher crude costs and lower retail margins.

Aviation and newspaper distribution group John Menzies expects full year results to be slightly ahead of current market expectations after a good first half performance at both its divisions.

A strong blockbuster and 3D line up, following a solid first half performance, underpins Cineworld’s confidence in delivering full year results in line with market expectations.

Amec, the international engineering and project management company, has won a contract to extend a gas facility in Cheshire. The contract, worth more than £60 million has been awarded by EDF Energy and requires AMEC to design, install and commission the filtration and compression facilities, after cooling, de hydration, metering and utility equipment at the Hill Top Farm facility at Warmingham.

THE FTSE CLOSED DOWN 91 @ 5211

THE DOW JONES AT 4.30 IS DOWN 157 @ 10,257

THE NASDAQ COMP AT 4.30 IS DOWN 30 @ 2185

Exchange Rate

USD - GBP 1. 562

EUR - GBP 1. 217