In the UK the FTSE has lost 3.4 points to 4731.8 points paced largely by Cairn Energy plummeting, after announcing that it will argue a royalty placed by the Indian government on oil the company is pumping in Rajasthan.
The oil exploration company has lost 21% or 290p to 1072p this morning. British Sky Broadcasting Group has lost 6.75p to549.25p. Sage group is faring well adding 2p to 198p, while engineering group Smiths has picked up 8p to 795p. Cruise firm Carnival is also up 27p to 3086p. In Japan, stocks were buoyed by a US economic report on jobless claims and manufacturing indicating the world’s largest economy is still in demand. Japan's Nikkei 225 Stock Average increased 1.4% to 11,078.32 at its close early this morning, led by automakers, Toyota adding a percentage point to 4,040 yen a...
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