FTSE still down despite better oil price

The FTSE 100 index eventually closed down 3.3 points or 0.07% at 4,747.9 by end of Friday, thanks largely to Antofagasta and Smith & Nephew. Antofagasta, the mining giant, lost 28p or 2.48% to £11.49 while rival firm Rio Tinto – the largest mining company in the world – ended the day down 28p or 1.84% to £14.93 and Smith & Nephew, the drugs company, also lost 14p or 2.57% to 531p. The FTSE 100 index had started the day well because the oil price was finally down under $44 and therefore lifting profit potential again. That seemed to change and prices headed south once trading opened in...