RAMSEY CROOKALL & CO

EVENING REPORT

13 AUGUST 2010

Aviva, Legal & General and Prudential are among the best performers in the insurance sector after it was reported that RSA made an approach last month to buy Aviva’s general insurance operations. Among the miners, BHP Billiton, Anglo American and Anofagasta are in demand. BP will pay a record $50.6 million for safety violations at its Texas City refinery, the troubled plant where 15 men were killed after a 2005 explosion. BP are down 6p at 403p. The mystery of Thursday’s sharp rise in the share price of African Diamonds has been resolved, with the company revealing it has received an unsolicited bid approach. The board has given the approach short shrift, however, as it believes the proposal is not one it would recommend shareholders accept. Elsewhere, thousands of British holidaymakers are stuck abroad after the collapse of another tour operator. Birmingham based Sun4U has ceased trading and is in the process of appointing administrators. About 1,200 customers are believed to be stranded, most of them in Spain. Billing Services, which provides payment and financial risk management services to the telecommunications industry, reported a small drop in earnings in the six months ended 30 June and said second half results will be modestly lower than first half results.

THE FTSE CLOSED UP 9 @ 5275

THE DOW JONES AT 4.30 IS DOWN 23 @ 10,296

THE NASDAQ COMP AT 4.30 IS DOWN 7 @ 21982

Exchange Rates

GBP – USD 1. 559

GBP – EUR 1. 22