RAMSEY CROOKALL & CO MARKET REPORT EVENING

24 May 2010

The FTSE limped back into positive territory, helped by an about turn by the mining stocks.

After spending the morning down Rio Tinto recovered to close up 59p at ?29.67 as metal prices head northwards.

The oil disaster in the Gulf of Mexico has cost BP about $760 million so far and the under-fire oil giant faces being ‘pushed out of the way’ if its clean up operation doesn’t do better.

So far 23,000 claims have been filed in relation to the MC252 oil well spill and 9,000 have already been paid.

Prudential was up 9p at 526p on reports that US firm AIG has drawn up plans to float its Asian arm again if the Pru’s attempts to buy it collapse.

British Airways climbed 1p to 190p as cabin crew started their strike today despite last ditch attempts to get it averted.

Travellers face massive disruption despite BA’s attempt to fly as many planes as possible, although it had looked like industrial action could be avoided following a last minute overture from the Unite union.

Pork products supplier Cranswick delivered a 26% surge in annual pre tax profit. Revenues were up 22% to ?740 million. The company said it is encouraged by the positive start made in the current financial year.

Recession has kept Albermarle & Bonds pawnbroker business strongly and it expects results for the 12 months to June 2010 to meet market expectations.





World Markets

THE FTSE 100 CLOSED UP 6 @ 5069

THE DOW JONES AT 4.30 WAS DOWN 60 @ 10,133

THE NASDAQ COMP AT 4.30 WAS UP 6 @ 2235



Exchange Rates

GBP – USD 1. 443

GBP – EUR 1. 164