RAMSEY CROOKALL & CO EVENING REPORT 28 JUNE 2010

Markets have moved ahead after more encouraging news from BP in the Gulf of Mexico and on reflection of the outcome of the latest G20 summit.

Renewed pledges from the G20 meeting to force banks to keep a lot more capital have also hit sentiment while Standard Chartered’s comment that income in the first six months is expected to be on a par with the same period last year has knocked its share price, 32p down to ?17.10.

The massive clean up operation in the Gulf of Mexico continues and has now cost BP $2.65 billion. The oil giant is stopping almost 23,000 barrels of oil from leaking into the sea, while reports at the weekend said the relief well to cap the leak completely could be in place earlier than expected. BP shares were up 3p at 308p.

Housebuilder Taylor Wimpey reports stable conditions in the UK and US housing markets over the past six months but is still wary over prospects going forward.

BT is to add Sky Sports 1 and Sky Sports 2 to its BT Vision subscription service from August 1st after the company inked a deal with British Sky Broadcasting.

Defence contractor Cobham has won a microwave modules contract from US company Raytheon Missile Systems. The contract is for $17.4 million and used in ground to ground or air to ground missile applications.

Shares in Premier Oil rose 7% to ?12.66 after a successful drilling result at its 35% owned Catcher East 28/9 licence in the North Sea.



THE FTSE 100 CLOSED UP 25 @ 5071

THE DOW JONES AT 4.30 IS UP 46 @ 10,189

THE NASDAQ AT 4.30 IS UP 17 @ 2240

Exchange Rates

GBP – USD 1. 5115

GBP – EUR 1. 2252