RAMSEY CROOKALL & CO EVENING REPORT 24 JUNE 2010

UK stocks closed lower as resource stocks declined amid concern an agreement on a proposed profit tax for mining companies.

Julia Gillard, the new Australian prime minister, said the new government prefers consultation and negotiation on the proposed Super Profits Tax. Rio Tinto, BHP and Xstrata have led a campaign since last month against the proposed 40% tax, prompting a plunge investment in projects worth at least $21 billion.

Train, bus and parking firm Go Ahead were down 9% at ?12.00, although it said that it remains confident of meeting expectations for the current year despite a difficult period for the travel industry. However, it remains cautious on the near term prospects.

Dana Petroleum sank 99p lower at ?11.66 after a mixed set of drilling results. It has made two new discoveries in Egypt, however, the shares fell as it reported disappointing results in two other locations.



THE FTSE 100 CLOSED DOWN 78 @ 5100

THE DOW JONES AT 4.30 IS DOWN 113 @ 10,184

THE NASDAQ AT 4.30 IS DOWN 30 @ 2223

Exchange Rates

GBP – USD 1. 4971

GBP – EUR 1. 215