RAMSEY CROOKALL & CO

MORNING REPORT

12 AUGUST 2010

London’s blue chips opened slightly lower as good results from the Pru were overshadowed by weak miners. Asia was one of the driving forces behind Prudential’s big increase in first half profits and the insurer is confident the momentum will be sustained during the rest of the year. Pru fell 2p to 560p. British gas owner Centrica is to acquire some natural gas assets in Alberta, Canada. Direct Energy, a North American subsidiary of Centrica, is paying C$375 million in cash to Suncor Energy for the assets in the Wildcat Hills region of Alberta. Shares in De la Rue dropped sharply on news that James Hussey resigned as chief executive and has left the banknote printer. Shaftesbury, the real estate investment trust focused on properties in London’s theatre district, said trading conditions remain buoyant with healthy demand for retail, restaurant, leisure and residential accommodation seen across its Villages. Online betting firm Sportingbet said it continued to perform in line with expectations throughout the final quarter and is on track to meet full year forecasts. The shares are up 1p at 60 1/4p.

THE FTSE AT 10.00 IS DOWN 4 @ 5240

THE DOW JONES CLOSED DOWN 265 @ 10,378

THE NASDAQ COMP CLOSED DOWN 68 @ 2208

Exchange Rates

GBP – USD 1. 5646

GBP – EUR 1. 2174