A continuing rise in oil prices has hit trading in FTSE 100 stocks again this morning, led in the main by airline companies which will probably have to increase the passengers' surcharge on fuel.
Oil prices hit another 13-year high and closed at more than $40 a barrel again in New York yesterday, but could have been much worse as the oil futures reached $40.38 in after hours trading. This has so far lowered the FTSE 100 by 18 points or 0.4% to 4436.4 and the FTSE All-Share index 0.3% lower to 2203.5. British Airways has been the first to announced it will impose an additional charge on tickets to cover for the increasing cost of fuel, but that has also had a negative impact on its share value, which is so far 6p or 2.3% off at 257.5p. Budget airline rival EasyJet says it wi...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
