Asset disposal at R&SA shifts FTSE

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Royal & SunAlliance's sale of assets has boosted its own share price and the FTSE 100 this morning, countering the impact of a fall in the oil price to under $50.

R&SA Insurance Group announced profit almost tripled in the first quarter thanks to the sale of assets, lifting the FTSE 100 index by 23 points or 0.5% to 4898 while the FTSE All-Share index gained 0.5% to 2438.07. R&SA added 3p or 4.1% to 76.5p in early trading. Despite the fall in the oil price, Xstrata, the mining giant and BP both rose, along with steelmaker Corus. Reversing recent losses, Xstrata is up 26p or 2.8% to 940p and BP has earned 3p or 0.6% to 540p while Corus has gained 0.5p or 1.2% to 43.75p. Royal & Sun Alliance, the U.K.'s second-biggest property and casualty ins...

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