In the UK the FTSE 100 index of leading shares was down 7.60 points to 5336.60, Cable & Wireless, Britain's second-biggest phone company leading fallers this morning after agreeing to pay at least $1.1 billion for Energis to expand its services and add clients. Cable & Wireless fell 2.3% to 159.25p.
BP also dropped 1.1% to 639p while Shell retreated 1.4% to 1,830p. Both have been affected by crude oil prices which have fallen for a second day in New York on speculation a government report will show stockpiles of heating fuel rose in the US after repairs to refineries. Crude oil for September delivery has fallen as much as 1.2% to $65.50 a barrel. Prices had hit $67.10 a barrel last week. On the winning side Daily Mail & General Trust, increased 1.5% to 665.5pas analysts at Deutsche Bank raised their recommendation on the shares to ``buy'' from ``hold.'' Meanwhile Japanese stocks ...
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