London's blue chips have made a bright start with Royal Bank of Scotland dominating the morning headlines after the bank returned to the black.Royal Bank of Scotland (RBS) is "on track" to achieve goals set out in its five-year recovery plan after posting a pre-tax profit of £1.16bn for the second quarter of 2010. The bank, which lost £21m in the first quarter and made a small profit of £59m this time last year, made £1.14bn for the half-year, up from a paltry £15m in the first six months of 2009. Talking to reporters, chief executive Stephen Hester conceded that there is still a long way to go for the state-owned bank.South African insurer Old Mutual saw operating profit before tax jump 43% in the first half, thanks to a strong performance particularly in the South African retail markets and in Wealth Management. The group also announced it agreed to sell its US Life operations to affiliates of Harbinger for $350m. Software group Logica is reviewing its UK public sector business as it expects new projects will be slow in the second half, though its guidance for the year is unchanged. Underlying interim profits dipped slightly to £125m from £127m in the half-year to June, on revenues down 1% at £1.87bn. Pre-tax profits, excluding one-offs, rose to £86m from £24m.Mobile phone satellite group Inmarsat's first half profits surged forward as earthquakes in Haiti and Chile boosted the use of its broadband service. Online gaming firm PartyGaming grew underlying interim profit by 14% and has continued to trade in line with expectations at the start of the second half. Underwriter Catlin said first half profits were hit by the BP oil spill in the Gulf of Mexico , record catastrophe losses and adverse foreignexchange movements. Pre-tax profit fell to $86m in the six months ended 30 June from $240m last time. This includes $49m in foreign exchange losses.