Oil drags FTSE down

BP has shaved 3p off its price to 631.5p, while Shell A shares are down 8p to 1,768p. BHP Billiton has led the miners down with a 9.5p fall to 814p after announcing board changes this morning. Telecoms firm O2 is down most in percentage terms, off by 1.8%, or 2.75p to 151.5p as investors question whether bidders will still be interested in the firm at its current £13bn market cap value. O2 rejected a bid from Dutch operator KPN in February this year, since when its shares are up about 65%. Rentokil is up 3.75p to 167p as investors await further news from Irish investor Gerry Robins...