The FTSE 100 finished the day with substantial losses as it fell 96.1 points, or 1.83%, to 5167.80 as oil stocks tumbled on falling crude prices, while inflation concerns and a weak Wall Street helped push the index below the 5,200 mark for the first time since July.
Oil heavyweights BP and Royal Dutch Shell tumbled as the US Energy Department had crude stockpiles up 5.6m barrels in the week to 14 October. BP dropped 12p, or 1.94%, to 608p, while Shell slipped 2.28% to 1,760p. Cairn Energy also continued its losses from this morning falling 5.69% to 1,592p. The American Petroleum Institute also had crude stocks up at 11.3m, sending US light crude for November delivery down a dollar to $62.20 a barrel. Drug giant GlaxoSmithKline ended down 0.41% to 1,455p, having given up earlier gains, after strong third quarter figures from rival Roche, which said ...
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