RAMSEY CROOKALL & CO

MIDDAY REPORT

18 AUGUST 2010

London’s leading share index has fallen with today’s company news doing little to give stocks any sense of direction.

Mining stocks are in focus, with Kazakh industrial metals group ENRC and Latin American precious metals specialist reporting big earnings jumps.

ENRC put in a strong first half performance as its traditional markets recovered and the Chinese economy powered ahead.

The mining sector is mixed overall. African Barrick Gold and Rio Tinto are higher, but BHP Billiton suffers more falls after yesterday’s brush-off from Potash Corporation of Saskatchewan prompted speculation of a bigger offer. BHP are down 39p at £18.77`.

Train and bus operator Stagecoach said it has seen an improvement in trading conditions since April 30 and sees the outlook as positive despite the change of government and economic uncertainty.

Car dealer Lookers hailed a record trading performance in the first half of 2010 as profits soared despite difficult conditions. Lookers, which sells new and second hand cars and parts, posted a pre tax profit of £21.4 million in the six months to June 30.

THE FTSE AT 12.15 IS DOWN 37 @ 5313

THE DOW JONES CLOSED UP 103 @ 10,405

THE NASDAQ COMP CLOSED UP 27 @ 2209

Exchange Rate

USD - GBP 1. 5631

EUR - GBP 1. 241