Lowers profits for Shell's parent group have upset trading on the FTSE 100 this morning, and kept the UK's main index under the 4400 barrier.
Although the FTSE is relatively flat down just 4.8 points or 0.1% to 4393.7 while the FTSE All-Share index is down 1.2 points to 2188.
Shell Transport & Trading – which is 40% owned by Royal Dutch/Shell Group – lost 3.75 or 1% to 361.75p after its parent reported fourth-quarter profit fell 33% in 2003, and this after Shell was previously forced to admit it had “overestimated” its reserves.
In Asia today, the Nikkei 225 managed to close up 0.2% to 10,464 while the Topix gained 0.3%.
Toyota reported third-quarter profit climbed higher than expected, thanks to US sales, and the share price closed up 2.7% to Yen 3,490.
And in the US yesterday, the Nasdaq closed down over 2.5%, as technology stocks were hit harder than other sectors.
The Dow Jones lost 34 points or 0.33% to 10,470 and the S&P 500 index fell 0.84% to 1,126.5 while the Nasdaq Composite index plummeted 2.52% or 52 points to 2,014.IFAonline
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