A sharp $8 drop in oil prices has revived London markets this morning, with the FTSE100 currently 28.60 points (0.51%) higher to 5631.40.
The oil price sunk after Hurricane Gustav was downgraded, easing damage fears on US offshore drilling sites. Thomas Cook leads a strong travel sector so far, 7.51% ahead to 247. Oil reliant British Airways is also revelling in the crude cost drop, up 6.02% to 277.50. The Government’s housing market plan has lifted building supplies firm Wolseley, 7% to 492.75. Tullow Oil and John Wood Group unsurprisingly head the losses, down 6.83% to 737 and 4.89% to 433 respectively. Miners are also lower once again, with Eurasian 4.85% behind to 923. In Tokyo, the shock resignation of Prime Ministe...
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