RAMSEY CROOKALL & CO

MORNING REPORT

9 AUGUST 2010

The FTSE 100 has opened higher with the index breaking through 5400 for the first time since May.

International Power is one of the best performers on widespread reports it will reveal a merger with French utility GDF Suez. The deal is expected to be announced tomorrow.

BP’s “static kill” and the cementing procedures at the broken MC252 well have been “successful” stopping oil leaking into the Gulf of Mexico, the oil giant confirmed today.

Drug giant Astrazeneca has agreed to pay a total of $198million in compensation to about 17,500 claimants in the US in relation to its bipolar disorder treatment Seroquel. The payments will not be reflected in 2010 earnings and guidance for profits in the year remains unchanged at $6.35 to $6.65.

Pub and restaurant group Mitchells & Butlers is set to sell the operations and leaseholds of its Hollywood Bowl business for 327 million in cash to AMF Bowling.

Oil and gas services group Petrofac has won a $430 million contract with Kuwait Oil Company (KOC) to develop a water pumping system that will help increase oil recovery.

Specialist brick, land development and landfill firm Michelmersh Brick said trading during the first half of the year has been in line with management’s expectations and is well placed for good progress through the rest of 2010 and beyond.

THE FTSE AT 11.00 IS UP 73 @ 5405

THE DOW JONES CLOSED DOWN 21 @ 10,653

THE NASDAQ COMP CLOSED DOWN 4 @ 2288

Exchange Rates

GBP – USD 1. 5963

GBP – EUR 1. 202