Oil puts FTSE in the balance

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In the UK the FTSE 100 index has retreated about 20 points to 4,894.60 points in morning trading.

High street electronic retailer Dixons leads the drop, down 3p to 152p, while steel firm Corus is down 1p to 54.25p on concerns that high-energy costs will slow economic growth. BP meanwhile has gained 5p to 557p. Japan's Nikkei 225 Stock Average fell 0.4% to 11,682.21 at its close early Saturday morning, on concern for ballooning crude oil prices. Japan imports nearly all of its oil. Sony, the maker of the PSP portable game console and Cyber- shot digital cameras, slid 0.7% to 4,240 yen. Crude oil for May delivery increased 3.4% to $57.27 a barrel in New York on April 1, on concer...

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