RAMSEY CROOKALL & CO

EVENING REPORT

6 AUGUST 2010

London’s blue chips sold off this afternoon after a disappointing US jobs report led US markets lower.

Shares in Royal Bank of Scotland closed down 1p at 51p after reporting a £1.16 billion pre tax profit in the second quarter.

Chief Executive Stephen Hester conceded that there is still along way to go but the bank is ‘on track’ to achieve goals set out in its five year recovery plan.

South African insurer Old Mutual, down 1p at 124p, saw operating profit before tax jump 43% in the first half, thanks to a strong performance particularly in the South African retail markets and in Wealth Management.

Software group Logica is reviewing its UK public sector business as it expects new projects will be slow in the second half. Underlying interim profits dipped slightly on revenues down 21% at £1.87 billion.

Mobile phone satellite group Inmarsat climbed 28p to 741p. First half profits surged as earthquakes in Haiti and Chile boosted the use of its broadband service.

Online gaming firm PartyGaming grew underlying interim profit by 14% and has continued to trade in line with expectations at the start of the second half.



THE FTSE CLOSED DOWN 33 @ 5332

THE DOW JONES AT 4.30 IS DOWN 122 @ 10,552

THE NASDAQ COMP AT 4.30 IS DOWN 31 @ 2261

Exchange Rates

GBP – USD 1. 597

GBP – EUR 1. 202