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Morning news wrap: BP, Inmarsat, Old Mutual, Royal Bank of Scotland

In the FTSE 100, oil and gas supermajor BP (LON:BP) has completed cementing operations at the MC252 well as part of the static kill procedure.

Satellite telecommunications company Inmarsat (LON:ISAT) said H1 revenues

climbed 12.2% to US$570.7 million, while pre-tax profits soared 56% to US$151.8 million. The company has also announced a contract with the Boeing Company (NYSE: BA) to deliver three 702HP Ka-band satellites.

Insurer Old Mutual (LON:OML) said operating profit jumped 43% to £735 million. The company has also announced the sale of its US life operations for US$350 million.

Royal Bank
of Scotland (LON:RBS)
posted a net profit of £9 million in H1 after making a £1.04 billion loss in H1 2009.

On AIM, Stanley Gibbons (LON:SGI) said H1 sales increased 24% to £11.9 million.

Mobile email and data synchronisation group Synchronica PLC (LON:SYNC) has announced the launch of 20 million subscriber subsidiary of a Latin American mobile operator has launched the MessagePhone.

Turkey and Ethiopia operating gold miner Stratex International (LON:STI) said pre-tax losses in the six months to 30 June increased from £0.6 million to £2.1 million.

Philippines focused gold producer Medusa Mining (LON:MML) said that the probable resource at its Co-O gold mine in the Philippines now stood at 505,000 oz (ounces) contained.

African focused nickel and gold exploration and development junior Nyota Minerals (LON:NYO) said its COO (Chief Operating Officer) Terry Tucker has joined the company's board as an executive director effective immediately. In addition, Nyota has appointed Dr Kebede Belete as Nyota Country Manager, Ethiopia and Messrs Richard Jarvis and Mark Burchnall as joint company secretaries.

http://www.proactiveinvestors.co.uk/companies/news/19729/morning-news-wrap-bp-inmarsat-old-mutual-royal-bank-of-scotland-19729.html