RAMSEY CROOKALL & CO MIDDAY REPORT 6 JULY 2010

London’s leading shares are posting stellar gains as miners push ahead on higher metal prices.

BP is posting strong gains, up 8p at 341p. It has denied looking to raise new money from sovereign wealth funds, but is just highlighting its strengths to potential investors.

Tullow Oil has reported a ‘very good’ first half year during which production came in on target and revenue increased 13%.

Shares in housebuilder Persimmon are up 22p at 370p on the news private sale reservations have softened around the time of the new government’s budget proposals, though sales prices and margins have continued to increase.

Pub group Punch Taverns, up 5% at 67p said market conditions remain challenging given the relatively weak UK consumer environment, though trading during the World Cup has been good with like for like sales growth over this period.

The number of passengers flying with low cost airline EasyJet jumped over 9% in June, helped in part by strike action at British Airways. Its planes carried 4.54 million people last month, up from 4.15 million a year earlier, increasing the total for the last 12 months by 7% to 47.64 million.



THE FTSE 100 AT 12.30 IS UP 103 @ 4927

THE DOW JONES WAS CLOSED INDEPENDENCE DAY

THE NASDAQ IS WAS CLOSED INDEPENDENCE DAY



Exchange Rates

GBP – USD 1. 518

GBP – EUR 1. 207