FTSE closes down on money managers

Money managers Amvescap and Schroders saw the biggest loses of the day, after the FSA warned OTC derivatives traders some trades are going unregistered for months and it may have to take action. As a result, the big money firms took a hit, with Amvescap closing down 8.25p or 2.31% to 349p while Schroders fell 17p or 2.39% to 695p. Telecoms firms BT Group and MMO2 also lost ground, falling 4.25p or 2.03% to 205.25p and 3p or 2.31% to 127p respectively. Steel giant Corus Group also lost the gains it made yesterday to close down 2p or 3.39% to 57p, while ICI also cooled 5.75p or 2% to...