$58 oil price continues to sabotage FTSE

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The FTSE 100 index has shed a further 17.3 points to 4,896.70 points, led by Old Mutual, after the oil price rallied again and lowered markets.

The life assurance firm has shed 3.75p to 131.25p while Corus Group is also down 1.5p to 53.75p, along with high street retailer Dixons, which lost 4p to 151p at the markets close a short while ago. Oil and gas company BG Group, meanwhile, has added 11.25p to 426p, after reporting natural-gas for delivery in the six months through March 2005 increased to a record, as a result of higher oil prices. Centrica also advanced 4.5p to 232.5p, after analysts raised the firm’s stock rating. And in the US, the Dow Jones industry Average index has slipped around 5 points to 10399.42 points in it...

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