The FTSE 100 Index closed down 20.8 points, or 0.4%, at 5,672.4 today as disappointing US earnings, a surge in oil prices and a fall for Vodafone hit the market.
Geopolitical tensions preyed on the minds of some investors as Iran said it was transferring its assets from European accounts to other foreign banks in an attempt to pre-empt possible UN sanctions over its nuclear programme. This, along with worries about the situation in Nigeria, where there has been a series of major attacks on oil pipelines, combined to send the price of oil to $68 a barrel. Vodafone dropped 2.7% to 118p, joined by fellow telecoms stocks BT Group, down 2.6% to 203.75p, and Cable & Wireless off 0.8% to 118.25p. The sector has come under persistent pressure since Fra...
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