FTSE falls as Friends results disappoint

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The FTSE 100 is slightly down in early trading with a drop of 4.9 points, or 0.08%, to 6,184.5, as results news from Friends Provident received a lukewarm response from investors.

The insurer is the biggest loser at the moment with a fall of 6.68% to 188.5p, after it announced underlying profits fell by 3% to £509m in 2006 because of problems at its fund management arm. Morrison is also down 2.78% to 306p, closely followed by DSG International which has dropped 2.07% to 170.5p, while Wolseley has declined 1.61% to £12.23, and BSkyB has slipped 1.61% to 550.5p. However Whitbread is posting the biggest gains with a rise of 6.95% to £18.62, while ICAP has added 3.55% to 510.5p, Prudential has advanced 3.32% to 731.5p, Barclays is up 2.88% to 696.5p, and British La...

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