Shell looked set to boost the FTSE 100 index this morning with news of a share buyback, however, falls by mining stocks pushed the index back to a three points loss at 4,520 in the first 90 minutes of trading.
Shell shares are up 8p to 394.75p as investors cheer the company’s efforts to dig itself out of a hole created by false accounting of proven oil reserves. Vodafone is up 1.25p to 140.25p. Unilever has recovered 3p to 530p following yesterday’s drubbing on poor results news. The FTSE 250 index is down about 23 points to 6,287. JD Wetherspoon issued a profits warning in association with its third quarter results, which show consumers have stayed away from its pubs and bars. Poor corporate results, and another accounting scandal in the form of technology firm Nortel Networks, he...
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