RAMSEY CROOKALL & CO EVENING REPORT 23 JUNE 2010



Stocks in London slipped in a quiet afternoon session as traders seemed more interested in the crunch World Cup match between England and Slovenia than in the stock markets.

Mining company Rio Tinto closed down 53p at ?33.91 on reports that the government in Guinea is threatening to withdraw part of the company’s iron ore concession.

Tobacco companies were a bright spot, which is unusual after the Budget. But the chancellor left the industry alone yesterday, which encouraged buyers of Imperial Tobacco.

Kesa Electricals gained 2% to 191p. Europe’s third largest electronics retailer said full year adjusted pretax profit rose 18% to ?81.9 million.

Rail and bus firm Stagecoach’s profits beat market expectations despite raising earnings guidance as recently as the end of April. Underlying profit before tax in the year to 30 April were ?161.3 million, down from ?196.4 million the year before.

Premier Inn owner Whitbread would be interested in snapping up rival low budget hotel chain Travelodge were its owners to put it up for sale, newspaper reports suggest.



THE FTSE 100 CLOSED DOWN 68 @ 5178

THE DOW JONES AT 4.30 IS DOWN 21 @ 10,272

THE NASDAQ COMP AT 4.30 IS DOWN 14 @ 2246



Exchange Rates

GBP – USD 1.49

GBP – EUR 1.218