Oil prices are still close to a record high, so traders have taking the negative tone on the London stock indices by Monday close of business.
British Airways eventually closed down 11p or 5.2% to 202p - having earlier in the day hit a 10-month low of 296p which in turn dragged the FTSE 100 index down 29.5 points or 0.6% to 4312.5.
Brent crude price for September settlement have climbed another 32 cents to $40.95 a barrel in London, having a record $41.50 on Friday.
Rival airline firm Ryanair also dropped 9.7 cents or 2.3% to Euro4.15 while Carnival, the cruise operator, lost 48p or 1.9% to £24.45.
Talk of a takeover bid for Abbey by Lloyds TSB also lowered interest in its share price, which eventually closed down 9.25p or 2.2% to 411.5p and pushed Abbey National shares down 2p to 576p, having earlier gained ground on bid talk.
William Morrison, the supermarket chain which bought Safeway, fell 4.75p or 2.7% to 173p after ABN Amro placed another 21m Morrison shares at 174p each.
And Woolworths Group eventually closed up 1.25p or 3% to 43.5p after its Entertainment UK division renewed its deal with Tesco as the main entertainment goods supplier.
In the US, markets are relatively flat compared with last Friday’s substantial losses.
The S&P 500 index has so far made the best gains, having earlier just 2.5 points or 0.23% to 1,066 while the Dow Jones index is up 0.14% or 13.86 points to 9,829 and the Nasdaq Composite index is up 1.3 points to 1,778.IFAonline
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