Weak insurers weigh on FTSE

Friends Provident dropped 3.98% to £2.17 after Foreign & Colonial Asset Management, in which it has a 51% stake in, revealed a fall in funds under management and warned of a dividend cut, lower margins and more losses of mandates in the Netherlands. Legal & General fell 1.28% to £1.54, Prudential declined 1.29% to £6.86 and Royal & Sun Alliance dropped 1.38% to £1.61. Corus remained the top riser, up 6.84% at £6.01 after Tata of India clinched the deal to buy Corus for £6.7bn, beating CSN in an auction to create the world’s fifth largest steelmaker. Vodafone gained 0.68% to £1.48 after...