FTSE falls as Stan Life feels credit crunch

Wolseley fell 5.59%, or 40 points, to 676p after it said the US housing slump had dented group profits by almost a third so far this year. Friends Provident rose 1.77%, or 2.7 points, to 155.2p after US private equity house JC Flowers sparked rumours of a possible takeover bid by building up a 2% stake in the provider. The Dow Jones fell 0.49%, or 59.91 points, on Friday to 12099.3c as Verizon Communications dropped 4.45%, or 1.82 points, to 39.09c. American International Group fell 4.09%, or 2.22 points, to 52.05c over fears the chief executive officer would sell his 12% stake in the...