The FTSE 100 failed to keep hold of early gains and by the close of trade had fallen 36.4 point...
The FTSE 100 failed to keep hold of early gains and by the close of trade had fallen 36.4 points to 5240.7. Oil stocks led the decline.
The falling price of crude has not been soothed by OPEC's meeting in Vienna today, which has been inconclusive so far as to the extent of production cuts. Onlookers fear that OPEC could lose control over the price of crude.
There were strong gains for British Airways and Hilton who led the FTSE 100 gainers with rises of 10%. Sage also performed well with a rise of 21p to 262p.
A raft of decent gains were negated by falls for index heavyweight BP Amoco down, 36p to 530p and fellow oil company Shell, down 34p to 484p.
Over in the US at midday, the key markets were relatively flat. The Dow Jones was up 44 to 9795. The Standard & Poor's 500 lost 0.89 to 1133.20. The Nasdaq shed 4 to 1887.
It's been a good day for technology bellwether Hewlett Packard, however, who unveiled fourth-quarter earnings that beat expectations. The stock added $2.06 to $22.29.
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation