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Morning news wrap: RSA Insurance Group, Old Mutual, BP, AstraZeneca, Morrison

11th Mar 2010, 8:08 am Morning news wrap: RSA Insurance Group, Old Mutual, BP, AstraZeneca, Morrison

In the FTSE 100, RSA Insurance Group (LSE: RSA) has acquired the renewal rights to TrygVesta’s marine hull portfolio for £6 million in cash.

Insurer (LSE: OML) said its pre-tax profits climbed from £1.13 billion to £1.17 billion in 2009, while funds under management rose from £265 billion to £285 billion.

Oil and gas supermajor BP (LSE: BP) paid Devon Energy US$7 billion in cash for assets in Brazil, Azerbaijan and the US deepwater Gulf of Mexico.

Pharmaceutical company AstraZeneca (LSE: AZN) announced a license and supply agreement with Torrent Pharmaceuticals Ltd. Torrent will supply to AstraZeneca a portfolio of generic medicines for which Torrent already has licenses in a range of countries.

Supermarket chain Morrison (LSE: MRW) said turnover for the year to 31 January 2010 increased 6% to £15.4 billion, while pre-tax profits climbed from £655 million to £858 million.

In AIM, specialty minerals exploration and development company Thor Mining (AIM: THR) has appointed Trevor Ireland as a Non-Executive Director of Thor.

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Morning news wrap: RSA Insurance Group, Old Mutual, BP, AstraZeneca, Morrison

No investment advice