After the Bank of England upped its inflation forecast and the International Energy Agency forecast the fastest rise in global demand for oil since 1988, it was perhaps inevitable that the FTSE 100 index would drop 41.80 to 4,412.90 by the close.
Still, it was entertainment that saw the biggest swings as BSkyB shed 32.5p to 621p after reporting a slowing of new subscriber growth, and the European Commission said the company’s monopoly on showing Premier League matches would end in future. British Airways fell 10.5p to 253p on continued rising oil prices. Rolls Royce fell 7p to 215p as the second biggest maker of aircraft jet engines also got caught in investor fears over returns from firms whose business is linked to energy prices. BAE Systems fell 6p to 193.5p after ABB, one of the biggest European companies doing business ...
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