After an opening upwards the FTSE 100 has dropped about 4 points to 4,403 after oil company shares fell with the price of oil and a number of index constituents went ex-dividend.
Dixons is down 5p to 157p after going ex-dividend. Hanson the brick maker is following suit for the same reason with a 6.5p decline to 381p. Shell is down 3.75p to 393p following a weaker oil price, yesterday’s record £17m FSA fine over its oil reserves scandal and news of a $91m industry settlement with the State of California over leaking storage tanks. BP is down 3.5p to 481p for similar reasons, including the settlement with California. Abbey is down 4p to 585.25p. Insurance companies are up today after a note from Lehman Brothers stating it sees improvements in the Europ...
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