Record oil price hits FTSE again

The FTSE 100 index dropped 11.6 points or 0.3%, to 4316.5 within the first hour this morning, while the FTSE 250 index is flat at 5866 and the FTSE All-Share index fell 5 points or 0.2% to 2143 as a result of the pressure of oil prices on firms such as British Airways. BA is down 3.25p or 1.5% to 208.25p as it will now have to more than double the fuel surcharge on long-haul fares. The September oil price in New York closed at $45.75. Schroders, however, seen its share price climb after reporting first-half profit more than doubled thanks to gains from stock markets boosted revenue...