Morning news wrap: GlaxoSmithKline, Anglo American, Gulfsands Petroleum

In the FTSE 100, pharmaceutical company GlaxoSmithKline (LSE: GSK) is reviewing label changes proposed by the US Food and Drug Administration (FDA) for asthma medications containing long-acting beta-agonists such as GSK’s Advair. GSK and other makers of LABAs containing medicine have 30 days to agree or state why they are not warranted.
Miner Anglo American (LSE: AAL) announced its preliminary results for the full year 2009, saying its operating profit amounted to US$5 billion, attributable profits was at US$2.6 billion and net debt was maintained at US$11 billion.
In AIM, Gulfsands Petroleum (AIM: GPX), an oil and gas company with assets in Iraq, Syria and Gulf of Mexico, said that operations have been  concluded on the Zaman-1 exploration well, the first of four wells in the 2010 exploration drilling programme.
Baobab Resources (AIM: BAO) reported results from the last of three diamond drill holes completed at the Sotuh Zone of the Tete magnetite-ilmenite project before the close of the 2009 field session. The hole returned an intercept of 43.5 metres at 64.5% iron from 56 metres.
Lo-Q (AIM: LOQ) released its results for the first ten months of 2009, reporting revenues of £17.3 million, a 27.9% improvement over the whole previous year, and pre-tax profits of £2.3 million, 29.2% more than in the 12 month period of the previous year.

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