RAMSEY CROOKALL & CO EVENING MARKET REPORT

9th JUNE 2010



Mining stocks pushed the London market higher as metal prices bounced on reports of an exports surge in China. A news agency is reporting that China’s exports in May were 50% higher than a year earlier.

That news has boosted demand for the likes of Fresnillo, Xstrata and Vedanta.

BP fell again down another 17p to 391p, following the venomous attack on chief executive Tony Hayward by US president Barack Obama yesterday.

Norway’s temporary ban on North Sea drilling has not helped sentiment towards oil company’s and BP’s sector peer Royal Dutch Shell also fell. Tullow Oil rose 16p to ?11.20 after it said it found oil at its Mahogany – 5 appraisal well immediately to the southeast of the Jubilee field offshore Ghana. The discovery makes it four out of five strikes in the region.

Financial software provider Misys climbed 25p to 249p on its plan to return more than $1 billion to shareholders after selling the majority of its stake in its Allscripts subsidiary. The sale of shares by Misys will enable Allscripts to proceed with its planned merger with US healthcare information technology firm Eclipsys.

Online clothes retailer ASOS also reported a 44% increase in full year pre tax profit while revenue surged 35% as UK and international online demand accelerated.



THE FTSE 100 CLOSED UP 57 @ 5085

THE DOW JONES AT 4.30 WAS UP 118 @ 10,058

THE NASDAQ COMP AT 4.30 WAS UP 32 @ 2202

Exchange Rates

GBP – USD 1. 4589

GBP – EUR 1. 2106