RAMSEY CROOKALL & CO EVENING REPORT 18 JUNE 2010

London stocks closed in negative territory with Gold hitting a record high of $1,260 an ounce.

BP fell 2p to 357p after CEO Tony Hayward received an eight hour verbal assault last night from US politicians. They accused the oil man of ignoring the risks his company was taking drilling a mile down in the Gulf of Mexico. Hayward said he was “deeply sorry” for the spill, the worst environmental disaster in US history.

Spain’s Santander has confirmed that it has entered a bid for 319 high street branches being sold by the Royal Bank of Scotland. The banking giant didn’t comment on any financial details, but market speculation earlier this week suggests a deal could be worth about ?1.8 billion.

Shares in Capita were down 13p and Serco down 6p on news yesterday that the new government has put the brakes on ?11.5 billion of projects casting doubts on growth prospects for two of public sector’s favourite outsourcing companies.

BT shares fell 2p on reports it faces a long drawn out strike with its blue collar workers.

Fund manager Henderson has scrapped its planned acquisition of fund boutiques run by US asset manager RidgeWorth Capital Management after failing to agree terms with owner SunTrust Banks.

THE FTSE 100 CLOSED DOWN 3 @ 5250

THE DOW JONES AT 4.30 IS UP 9 @ 10,453

THE NASDAQ COMP AT 4.30 IS UP @ 2307

Exchange Rates

GBP – USD 1. 479

GBP – EUR 1. 197