RAMSEY CROOKALL & CO

MORNING MARKET REPORT

9th JUNE 2010

London’s blue chips have opened firmer after yesterday’s rebound by Wall Street.

Royal Bank of Scotland rise a penny to 42p on a report in the FT that the state owned bank has drawn up a short list for two key businesses that are expected to fetch about ?4 billion.

BP, though, is down 8p at 400p with investors still concerned by the venomous attack on chief executive Tony Hayward from the US president yesterday, while Norway’s temporary ban on North Sea drilling has not helped the mood.

Shares in financial software provider Misys soar 20% to 268p on its plan to return more than $1 billion to shareholders after selling the majority of its stake in its Allscripts subsidiary.

Volatility in foreign exchange and equity markets boosted spread better IG Group’s fourth quarter and full year. For the year to May IG expects to report revenue up 16% and adjusted profit before tax up 25% to ?157 million.

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

Tullow Oil has found oil at its Mahogany – 5 appraisal well immediately to the south east of the Jubilee field offshore Ghana, making it four out of five strikes in the region.



THE FTSE 100 AT 10.00 IS DOWN 12 @ 5015

THE DOW JONES CLOSED UP 123 @ 9939

THE NASDAQ COMP CLOSED DOWN 3 @ 2170

Exchange Rates

GBP – USD 1. 445

GBP – EUR 1. 201