FTSE drops as Old Mutual disappoints

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The FTSE 100 Index fell 22 points, or 0.4%, to 6,083 points today with financials such as Old Mutual heavily in the red.

Old Mutual dropped 3.35% to 193.25p after it reported a strong start to the year as it posted an 11% rise in combined sales and a rise in funds under management during the first quarter. The figures still came in below expectations. Royal & Sun Alliance fell 1.23% to 140.25p and Man Group declined 0.98% to 2,626p. DSG International jumped over 6.95% to 207.75p after it said it would beat consensus profit forecasts this year after a stronger than expected second half. Scottish & Southern Energy gained 0.78% to 1,162p as Morgan Stanley upped the utility to "outperform" with a target ...

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