The benchmark FTSE 100 index closed down 8 points today at 4,422.7 after concerns about oil prices dragged British Airways down, alongside Royal & SunAlliance.
British Airways fell 6p to 248.25p, while insurer Royal & Sun lost 2.5p to 78.5p. In the meantime, BP rose 5.75p to 483.5p on the prospect that higher oil prices may boost their profits. Earlier in the day, the oil futures price hit $42 a barrel in New York - its highest price since 1983 - however it is only the oil production firms which can expect to see their profits rise on the back of such news. BG Group, once part of the Britain’s natural-gas monopoly, also gained 3.75p to 335.75p, while rival Scottish Power advanced 2.25p to 398.75p. Imperial Chemical Industries jumped...
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