FTSE slips a little on oil

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The FTSE 100 index of leading shares has so far dropped 1.6 points, or 0.3%, to 5326.90 in morning trading, led by oil producers BP and Royal Dutch Shell while British Airways and Yell Group climbed.

BP, Europe's biggest oil producer, dropped 2.5p, or 0.4%, to 635p while Shell, the region's second-biggest oil company, slipped 4p, or 0.2%, to 1826p, as the oil price has dropped back slightly from its earlier highs as some of the US oil refineries will begin operating again earlier than expected in the Gulf of Mexico. British Airways, Europe's third-largest carrier, rose 3p, thanks to improved profits for state-owned European rival Air France. Yell Group, the British phone-book publisher, also rose 6.75p, or 1.5%, to 461.5p In Japan, the Nikkei 225 Stock Average index gained 93.03...

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