UK shares bounced back today after a run of downers concerning high street sales and the climbing oil price, accompanied by improvements for R&SA's bottom line.
Whereas companies like Shell and BP have recently been reaping the benefits of a climbing oil price, Imperial Chemical Industries and British Airways today saw gains on the back of the oil price falling back below $50 a barrel, as this will ease pressure on earnings. As a result, the FTSE 100 Index closed up 17.8 points or 0.3% to 4888.3, as profit-takers made jumped on BA ahead of its report tomorrow and rose 7.5p or 3.04% to 254p while ICI added 4.5p or 1.85% to 248p. BOC, the gas company, also earned 27p or 2.77% to a flat £10.00 and Royal & SunAlliance made the best gains of the d...
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