Amvescap sinks FTSE

The fund manager has retreated as much as 46.5p or 11% to 369.25p, after Canada based mutual-fund company, CI Fund Management retracted its plans for a hostile takeover bid. Royal Bank of Scotland Group has also declined 75p or 4.5% to 1628p. The bank posted a 10% increase in first-half profit gain, however this was on the wrong side of analyst’s estimates. Smiths Group also shed 21.5p to 903.5p. Leading gainers, Imperial Chemical Industries advanced 26.25p or 10% to 296.5p, after reporting a second-quarter net income of £110m, well above analyst’s estimates. Unilever picked up 21p ...