RAMSEY CROOKALL & CO

MIDDAY REPORT 9 JULY 2010

London shares remain in positive territory buoyed by a rash of upbeat company announcements although US futures point to a lower start on Wall Street.

Miners are leading the way following last night’s big gains in the US. Antofagasta, ENRC and Rio Tinto are the best performers.

Housebuilder Bovis is selling homes in line with its targeted weekly sales rate and will resume dividend payments at the end of the financial year.

Steady progress is being made at engineering firm Bodycote leaving it on course to comfortably exceed the highest broker forecast for full year operating profit. The shares are up 24p at 215p.

Insulation materials and specialist construction products maker SIG said underlying profit before tax for the first half of 2010 will be above market expectations. Sales in sterling of around ?1,291 million were down 4% compared to ?1,345 million a year earlier.

Growth in permanent placements, especially in Asia and Latin America, helped recruiter Michael Page lift second quarter profits by a third. Group gross profit rose to ?111 million to June up 33% on this time last year’s ?83.8 million. The shares are up 7p to 393p.



THE FTSE 100 AT 12.20 IS UP 16 @ 5121

THE DOW JONES CLOSED UP 120 @ 10,138

THE NASDAQ COMP CLOSED UP 15 @ 2175



Exchange Rates

GBP – USD 1. 516

GBP – EUR 1. 196