<strong>CHRISTINE TISCARENO </strong>STANDARD &amp; POOR&rsquo;S<br />&ldquo;We believe the company's restructuring efforts will be more visible in the first half of next year, but the challenging global environment leads us to believe that overall margins will continue to deteriorate at Royal Dutch Shell in the fourth quarter and in the first quarter next year.&rdquo;<br /><br /><strong>JONATHAN JACKSON </strong>KILLIK &amp; CO<br />&ldquo;Shell is renowned for taking a generational approach to the business despite the near-term challenges facing the industry. The group is currently investing a huge amount of capex (around $30bn at the group level), the fruits of which in terms of production growth are still several years away.&rdquo;<br /><br /><strong>RICHARD CURR </strong>PRIME CFDS<br />&ldquo;Despite signs of improvement in Shell&rsquo;s core markets, the company indicated it doesn&rsquo;t expect a rapid return to the profitability it enjoyed before the economic downturn. The results disappointed analysts by failing to beat modest expectations. Royal Dutch has taken a major step back in sentiment terms, and it will take some time for the markets to regain confidence in the stock.&rdquo;