British Airways' plan to increases surcharges by up to 50% this month, on the back of record crude oil prices, grounded the FTSE for the start of the week.
The UK benchmark index shed 35.5 points to 5043.5 points at its close a short while ago, with airline firm BA down as much as 125p or 5.4% to 260.75p. And oil continues to trade above the $60 per barrel barrier in New York. Investment management group Schroders has also lost 22p to 680.5p, while Reuters is down 11.25p to 384p. Advertising group WPP shed 13p to 576p, despite reports of a 20% sales increase to May and after picking up new client Samsung along, perhaps because of its purchase of Grey Global Group. In the winning column, Shell Transport & Trading has picked up 7p to 528p,...
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