FTSE raised by profit turnaround for R&SA

The FTSE 100 Index is currently up almost 24 points or 0.5% to 4436.8 along with the FTSE All-Share index which has also gained 10.9 points or 0.5% to 2201.9. Royal & SunAlliance’s profit potential has been in the doldrums for a few years now after management sought to find a buyer for the entire firm. Since restructuring and the sell-off of certain divisions, R&SA has this morning announced first quarter net income of £51m compared with a net loss of £16m this time last year. This has lifted R&SA’s share price 5p or 6.7% to 79p. Reckitt Benckiser, maker of household cleaners, has als...