A drop in the oil price is the main activity for stock trading this morning, as BA has made the most of price shifts while oil firms has seen their values fall.
The FTSE 100 index is relatively flat this morning but has still managed to stay over the 4500 mark at 4507.7 within the first hour of trading while the FTSE All-Share index is at 2239.
British Airways has so far gained 5.5p or 2.1% to 266.5p after the price of oil dropped for the second day in a row yesterday, having risen so high last week. This should mean BA’s profits may not be affected.
Oil giants BP and Shell Transport & Trading Co, however, have seen their share values fall because the price of oil is down again. BP fell 6p or 1.2% to 486.25p this morning while Shell lost2p or 0.5% to 398.25p.
Mining firms Xstrata, BHP Billiton and Anglo American have also seen their share values drop after Deutsche Bank suggested Xstrata’s value will drop to 560p.
On the back of this, Xstrata, the world's fourth-largest coal exporter, fell 12.5p or 1.8% to 698.5p while BHP Billiton slipped 6.5p or 1.4% to 454.5p and Anglo American shed 13p or 1.1% to £11.44.
In Asia, the Japanese indices fell after some traders removed two of the major banks – Mizuho Financial and Sumitomo Mitsui - from their list of potential purchases.
The Nikkei 225 index eventually closed down 0.6% to 11,449 today while the Topix index declined 0.4% to 1152.
And in the US yesterday, all three main indices closed up, as the market reacted to adjustments in the oil price.
The Dow Jones index closed up 41 pojnts or 0.4% to 10,432.5 while the Nasdaq Composite index rose a fraction, having gained 2.9 points or 0.14% to 2,023 and the S&P 500 index lifted 0.15% to 1,142.IFAonline
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