Utilities drag on FTSE

National Grid dropped 0.67% to 596p, Scottish Power declined 1.20% to 576.50p and Severn Trent dropped 0.59% to 1,184p. Cairn Energy fell 0.72% to 2,056p and BP dropped 1.22% to 609.50p on the back of reports crude production in Iraq remains strong. Cadbury Schweppes fell 1.16% to 512p on the withdrawal of a series of its products after the discovery of minute traces of salmonella at one of its chocolate factories. Meanwhile, Xstrata gained 0.88% to 1,955p following its hostile takeover approach for Falconbridge. Vedanta also climbed 0.85% to 1,312p, while BHP Billiton rose 0.30% to...