Friends Prov pushes FTSE down for fourth day

The FTSE 100 Index dropped 45.1, or 0.7 percent, to 6206.1 while the FTSE All-Share Index was down 25.58, or 0.8%, to 3203.35. Friends Provident fell 3.4% to 175.3 pence on news that Pearl Assurance could challenge its merger with Resolution. Cadbury, the world's largest confectionery company, slid 3% to 572 pence as it confirmed sale plans for its American Beverages arm have been scrapped. However, there was a stronger showing for some of the blue chips including Alliance and Leicester and oil and gas group BG which posted higher levels of earnings than expected. Wall Street also fel...