Oil price still high while the FTSE is not

Having yesterday leapt considerably, Cairn Energy, the oil exploration firm now looking to extend its position in India, today moved in the other direction and dropped 33p or 2.2% to £14.66. This knocked the FTSE 100 index down a further 0.2% to 4533 within the first hour of trading but has since pulled back to around 4558, while the FTSE All-Share Index is up 0.3% to 2264.5. Cairn Energy, the largest U.K.-based based oil-exploration and production company, dropped 33 pence, or 2.2 percent, to 1466 pence. Hilton, the hotel chain firm which owns the brand outside of the US, is also...