FTSE falls despite R&SA life sale

Royal & Sun Alliance Insurance Group has finally managed to sell its life assurance operation to Resolution Life – a company which buys with-profits books to trade and manage the assets in bulk – for £850m. This has boosted its share price by 1.25p or 2.3% to 79.75p however the FTSE 100 index is still down 12.8 points or 0.3% to 4405.9 within the first hour of trading. Lloyds TSB dropped 1p or 0.2% to 412.75p after reporting fiurst-half profits are down 6% evrn though it sold New Zealand and Brazil operations to focus on its home market. The FTSE All-Share index is also down 4.73 p...