Following the price of oil on the futures market pushing through the $41 per barrel mark overnight, the FTSE 100 index has this morning shed about 15 points to 4,438.
Rio Tinto is down 26p to 1,231p after it and other coal miners were hit by an Australian government decision not to allow trading in coal quotas to cut queues of ships loading coal at the world’s busiest such port north of Sydney. Xstrata, another miner, is down 7.5p to 645p. BOC is down 12p to 875.5p despite reporting a 30% rise in quarterly profit yesterday. Investors are shying away following other news of an asbestos case loss in the US. SABMiller is down 5p to 596.5p after another investment bank recommended investors sell shares in a Chinese brewer the company wants to acquir...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
