RAMSEY CROOKALL & CO

MORNING REPORT

27 JULY 2010



The FTSE 100 is making good gains in early trading.

BP confirmed Tony Hayward is to step down as chief executive on 1 October to be succeeded by fellow executive director Bob Dudley. The group also unveiled a $32.2 billion charge for the Gulf of Mexico oil spill and reported a headline loss of $17 billion for the second quarter.

Revenues and profits continue soaring at ARM as it posted a pre tax profit of ?43.5 million in the three months to June 30, up from ?16.3 million over the same period the previous year.

Banks are a strong sector with Lloyds up 6% and Barclays up 7% this morning.

Diversified mining group Xstrata saw a small decline in copper production in the first half of 2010 but ferrochrome output rebounded strongly.

Car parts and bicycles retailer Halfords drove through a 9.6% rise in group revenue from 3 April to 26 July, but it issued a cautionary stance on the economic environment.



THE FTSE AT 9.55 IS UP 36 @ 5387

THE DOW JONES CLOSED UP 100 @ 10,525

THE NASDAQ COMP CLOSED UP 26 @ 2296



Exchange Rates

GBP – USD 1. 546

GBP – EUR 1. 189