The FTSE 100 index has opened down 6.3 points, or 0.1%, at 6,126.1 as higher oil prices have weighed on the market and utilities appear shy as hopes of consolidation in the sector are fading.
Transport stocks have been hit by the continued strength in oil prices. Carnival has fallen 1.4% to £27.83 while British Airways has lost 1.1% to 337.5p. While crude oil prices have eased slightly following their recent rally, oil stocks are continuing to trade well. Royal Dutch Shell is up 1% to £20.63 and BG Group is 1.2% higher at 789.5p. Scottish Power has dragged on utilities following reports that German group E.on is now unlikely to continue its pursuit of the UK company, preferring instead Spain’s Endesa. Shares in Scottish Power have shed 1.2% to 568p. Fellow utilities are lower...
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