FTSE closes down on another dismal week

The FTSE 100 has, unsurprisingly, closed with yet another weekly decline, as oil companies lost more value on the back of falling crude prices. The FTSE 100 today plunged 199 points or 4.6% to 4098.3, to end the week with a 3% drop as BP and Shell accounted for almost two-fifths of the decline. BP fell 30.5p or 6.2% to 464.5p while Shell lost fell 14.5p or 3% to 419p, after Brent crude oil for September settlement fell for a second day, to $25.94 a barrel. Monday's 5.4 percent plunge and today's drop are the two biggest since Sept. 11, but there has been little to encourag...