Statements by Shell over its plans to divest and cease share buy-backs to fund exploration helped send the FTSE 100 down by 16.10 points to 4,592.30 by the close.
Earlier, the index touched a new high for the year of 4,630, last seen in the summer of 2002. Shell dropped 14.25p to 418p. Reuters fell 11.5p to 330p on comments from the company’s chief executive Tom Glocer it may sell its stake in order matching service Instinet. British Airways dropped 5p to 210p as strikes loom at both Gatwick and Heathrow airports in the UK. Wolseley, the plumbing supplies company, gained 22.5p to 919p on a share price target upgrade from UBS. SABMiller closed up 6.5p at 716.5p on news it is buying another competitor. Shares are down in the US curren...
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