By Ben Bland The insurance sector dragged the market lower as the interim reporting season got underway with a profits warning from Germany re-insurance giant Munich Re. Legal & General slid 7.1 to 98.6p, RSA Insurance lost 6.5 to 128.8p, Aviva shed 21½ to 490p and Prudential slipped 20 to 515½p. Analysts at Merrill Lynch argued that "trading conditions in the UK life market are the most challenging for several years and positive catalysts are likely to remain elusive". "It seems right to remain cautious on the UK domestic companies despite poor share price performance and undemanding valuations," the broker added. The FTSE 100 closed down 9.7 at 5352.6, while the FTSE 250 ended 139.5 lower at 8867.7. Over the course of the week, the blue chips lost 0.4pc, while the mid caps shed 1.1pc. As the London market closed, the Dow...
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