The FTSE 100 index actually lost ground today to close down 7.9 points to 4908.3 points after Royal Dutch/Shell Group cut its reserves for a fifth time, while revealing that its oil and gas holdings were again at least a third lower than reported in 2002.
Shell Transport & Trading Co shed 8.25p to 471.75p, while further mining groups joined the firm on the wrong end of the scale including BHP Billiton down 14.5p to 672.5p, along with Antofagasta and Rio Tinto down 24p to £12.29 and 30p to £16.55 respectively.
Pesticide firm Rentokil Initial was the day’s biggest faller losing 4p to 153.75p.
Sugar and starch group, Tate & Lyle added 10.75p to 462.50p, while Smith & Nephew also added 11.50p to 546.50p.
Back down to earth too has come the Dow Jones this morning, the benchmark losing 28.62 points to 10,569.97 points, after a report revealed US productivity grew at its slowest rate in almost four years, pointing towards concern of a hike in inflation.
International Paper has shed $0.76 to $39.52, while Merck & Co is trading $0.38 down to $28.08.
Hewlett-Packard meanwhile has added $0.42 to $19.99.IFAonline
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