RAMSEY CROOKALL & CO MORNING MARKET REPORT

3rd JUNE 2010

London’s top stocks motor ahead in early deals, thanks to a stellar performance on Wall Street last night.

Miners are the main benefactors with Eurasian Natural Resources, Xstrata and Rio Tinto amongst the strong risers.

Xstrata has suspended A$586 million of expenditure on Australian projects, which will not be viable under the government’s proposed tax on super profits.

DIY retailer Kingfisher climbs 5p to 228p after reporting a 1.8% decline in like for like sales in the first quarter in which adverse weather conditions across Europe and ongoing uncertainty impacted.

BP rise 19p to 449p as bargain hunters snap up the shares. However, two US democratic senators have called for the company to suspend its annual dividend until the clean-up and liability costs are determined.

The recovery in platinum prices last year came slightly too late for Johnson Matthey as pre tax profits for the year fell 5% to ?254 million, on revenues that slipped to ?7.84 billion from ?7.85 billion.

Synergy Health, which provides outsourced support services to the health industry, posted a 50% rise in profits an said it starts the new year in a ‘strong position’. The shares are up 13p at 619p.



THE FTSE 100 AT 9.50 WAS UP 109 @ 5260

THE DOW JONES CLOSED UP 225 @ 10,249

THE NASDAQ COMP CLOSED UP 58 @ 2281

Exchange Rates

GBP – USD 1. 469

GBP – EUR 1. 195