The Morning news update with Aviva, AMEC, Sound Oil and Northern Petroleum

FTSE 100

Aviva (AV.) – Posts a 4% rise in first-half operating profit as its European and UK general insurance businesses built on a strong start to the year, offsetting weakness in Canada.

Old Mutual (OML) – Reports a 17% increase in first-half adjusted operating profit, helped by strength at its South African businesses and its wealth management unit. However, it said it expects the external conditions for its emerging markets businesses to continue to be challenging in the next six months.

Mondi (MNDI) – Paper maker Mondi posts a slight rise in first-half earnings, up 5%, as a strong performance in its packaging business offset lower prices of paper grades.

FTSE 250

AMEC (AMEC) – Reports a 30% fall in first-half pretax profit, as a strong pound overshadowed an increase in orders.

Spirax Sarco (SPX) – Steam-control valves and pumps maker Spirax said first-half pretax profit fell 3% as it was impacted by the strong pound.

Cobham (COB) – Posts a 14% decline in half-year profit, hit by lower defence spending and foreign exchange headwinds, but reassures it is on track to meet current expectations for the full year.

Small caps

Rotala (ROL) – Posts H1 pretax profit up 12% on lower revenues.

Matchtech (MTEC) – Reports strong trading in the second half of the year, with results now expected to be slightly ahead of current market expectations.

Sound Oil (SOU) – The company has agreed terms to purchase a 59,140 square metre plot of industrial land in the Lombardy region of Italy for a total consideration of Euro 1.8 million (excluding VAT). The site will host the drill site for the initial Badile exploration well and for all other production wells required to exploit the discovery. 

Northern Petroleum (NOP) – Reports that the first of three new wells will spud this week at its project in Alberta, Canada.

blinkx (BLNX) – Announces the launch of a new consumer product, Skyrocket Player. A downloadable Windows application, Skyrocket Player allows for seamless online video viewing directly on a user’s desktop while working, browsing the Web or gaming. blinkx is currently developing a version of Skyrocket Player for mobile devices.