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Fund managers hit by slump in ICI share price

The top 10 institutional shareholders in Imperial Chemical Industries (ICI) have between them lost £293m (€432m), following the collapse of the UK chemical manufacturer's share price.

ICI's shares slumped 47% after the UK chemicals group said pre-tax profit for the first quarter would fall to around £50m, compared to £66m over the same period of last year.

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