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Morning news wrap: Morrison, BG Group, SABMiller, National Grid, AstraZeneca, Dana, Investec

19th Nov 2009, 8:04 am Morning news wrap: Morrison, BG Group, SABMiller, National Grid, AstraZeneca, Dana, Investec

In the FTSE 100, oil company BG Group (LSE: BG) announced record productivity from well tests on the Iracema appraisal well in the Tupi area of the Santos Basin in Brazil, where aggregate production amounted to 10,500 bopd (barrels of oil per day) and 17 mmscfd (million standard cubic feet of gas per day).

Morrison Supermarkets (LSE: MRW) said total sales in the 13 weeks to 1 November were up 9.1%, or 5.1% including fuel. Like for likes were up 4.3%, or 1.3% including fuel.

Beverage group SABMiller (LSE: SAB) released its interim results, reporting a better than projected 6% increase in earnings, while lager volumes declined 1% and revenues were down 6%.

National Grid (LSE: NG) also released its H1 results, saying a pre-tax profit increase of 16%, while earnings per share rose 31%, which it called a very strong performance. Outlook for 2009/10 was strong and in line with expectations.

Pharmaceutical company AstraZeneca (LSE: AZN) said it has submitted a new drug application to the Food and Drug Administration (FDA) for its investigational oral antiplatelet treatment ticagrelor BRILINTA, aimed at reducing of major adverse cardiac events in patients with acute coronary syndrome.

In the FTSE 250, Dana Petroleum (LSE: DNX) said its working interest production for the year to date has averaged 38,200 boepd (barrels of oil equivalent per day), anticipating a full year production level of 39,000 boepd for 2009.

Investec (LSE: INVP) released its interim report today, saying operating profit slid 10.7% to £216 million, while earnings before items slid 3.1% to £160.4 million.

In the AIM, Tunisia focused metal miner Maghreb Minerals (AIM: MMS) has announced the issue of 20 million new shares at a price of 1.5 pence per share.

US focused junior Empyrean Energy (AIM: EME) has said it has completed planning for the fracture stimulation of each of the three horizontal wells at its Sugarloaf project in Texas.

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