Rising oil price drags FTSE down

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In the UK the FTSE 100 Index of leading shares has slipped 5.80 points, or 0.1% to 5447.30 at its close a short while ago despite a good start in morning trading.

Tesco and Cadbury Schweppes fell on concern higher oil prices will hurt consumer demand. BP and Royal Dutch Shell rose after analyst advised investors to buy the shares. Tesco, the largest UK retailer, declined 1.3% to 313.75p. Cadbury, the world's third-biggest maker of soft drinks, slid 1.3 % to 576p. BP, Europe's No.1 oil producer, increased 1% to 669.5p. Royal Dutch Shell, the second-largest, advanced 0.2% to 1,834p. Aberdeen Asset Management climbed 2p, or 1.9%, to 107.5p. The Scottish money manager, which is buying the UK fund business of Deutsche Bank, said funds under manageme...

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