RAMSEY CROOKALL & CO

MIDDAY MARKET REPORT

4th JUNE 2010

The FTSE 100 index has lost earlier gains as the futures point to a weaker start on Wall Street.

BP, up 14p at 446p, has placed a LMRP cap on the oil leak in the Gulf of Mexico but added that it is too early to say if the next part of the plan, to syphon the oil up to the surface will work. Shares in Rockhopper Exploration have increased eight fold over the last month and have shot up over 30% this morning after the North Falkland Basin oil and gas exploration company gave an update of its Sea Lion prospect. The company said samples from well 14/10-2 on the Sea Lion prospect were confirmed as medium gravity crude oil and estimates of recoverable oil have increased by 42%.

Budget airline Easyjet, down 4p at 420p flew 7.9% more passengers in May than it did the same time last year despite the impact of the volcanic ash clouds from Iceland. The airline carried 4.3 million passengers last month while the load factor rose to 85.8% from 83.5%.

Scottish & Southern Energy will pay almost $100 million less for the North Sea natural gas and infrastructure assets of Hess it agreed to buy in April. The UK utility had offered $423 million for the assets, but will now pay $324 million as it only has about 80% of the resources from the original package available to buy.

Toy company Hornby, which owns Scalextric, Corgi and Airfix brands is already seeing significant interest in its London Olympics product range. Hornby reported profit before tax of ?5.7 million in line with expectations down from ?6.1 million last year.

THE FTSE 100 AT 12.20 IS DOWN 31 @ 5179

THE DOW JONES CLOSED UP 5 @ 10,255

THE NASDAQ COMP CLOSED UP 21 @ 2303

Exchange Rates

GBP – USD 1. 461

GBP – EUR 1. 205