Markets: oil stocks drag FTSE 100 down

The FTSE 100 slipped back yesterday, closing down 0.3% at 6,710.

  • FTSE 100 down 0.3% to 6,710
  • Gold down 0.54% to $1,315.60/oz
  • £/$ 1.3140

Oil stocks were among the biggest fallers. BP lost 2.6%, while Royal Dutch Shell was 2.6% lower. Precious metals miner Randgold was the day's worst performer, down 3.4%.

In Europe, the Paris CAC 40 rose 0.2% to 4,388 and the German Xetra Dax gained 0.5% to 10,198.

In the US, the Dow Jones Industrial Average fell 0.4% to 18,493, the S&P 500 lost 0.3% to 2,168, and the Nasdaq Composite was 0.1% lower at 5,097.

Overnight in Japan, the Nikkei 225 and the broader Topix index each lost 1.4% to 16,383 and 1,306 respectively. And in China, the CSI 300 rose 1.2% to 3,269, and the Shanghai Composite was 1.1% higher at 3,050.

Brent spot was trading at $44.85 early today, and in New York, crude oil was at $43.17. Spot gold was trading at $1,322 an ounce, silver was at $19.59 and platinum was at $1,085.

In the forex markets this morning, sterling was trading against the US dollar at 1.3089 and against the euro at 1.1899. The dollar was trading at 0.9091 against the euro and 104.28 against the Japanese yen.

And in the UK, RBS and NatWest have warned that they could impose negative interest rates on theircommercial customers if the Bank of England lowers the base rate to below zero. Interest rates have been at 0.5% since March 2009, with the Bank of England meeting next week to decide on whether to change them.

Recommended

What the Omicron variant means for your money
Investment strategy

What the Omicron variant means for your money

The Omicron variant of Covid-19 is panicking the markets. Will we see a new lockdown? What does it mean for the economic recovery, for inflation and f…
30 Nov 2021
What would another lockdown mean for markets?
Stockmarkets

What would another lockdown mean for markets?

A nasty new strain of Covid-19 has already sent markets tumbling, with the threat of further lockdowns now in the air. John Stepek looks at what that …
26 Nov 2021
Vivek Ramaswamy: beware of the "woke industrial complex"
Investment strategy

Vivek Ramaswamy: beware of the "woke industrial complex"

Merryn talks to author and investor Vivek Ramaswamy about how big fund managers are using ESG investing to undermine the foundations of democracy.
26 Nov 2021
What Europe’s fourth wave of Covid means for investors
Economy

What Europe’s fourth wave of Covid means for investors

A fourth wave of Covid infections is spreading across mainland Europe, with many countries re-introducing restrictions. Saloni Sardana looks at what i…
25 Nov 2021

Most Popular

Don’t worry about the global population explosion – it’s unlikely to happen
Investment strategy

Don’t worry about the global population explosion – it’s unlikely to happen

One of the many things we are taught to worry about is the fast-rising global population. But in fact, says Merryn Somerset Webb, the opposite is tru…
15 Nov 2021
Four of the best new investment trust listings
Investment trusts

Four of the best new investment trust listings

Diversify your portfolio and benefit from rising dividends with these four new investment trusts coming to the market soon.
15 Nov 2021
Is it time to remortgage your home?
Mortgages

Is it time to remortgage your home?

Banks are already starting to prepare for higher interest rates, says Alex Rankine. Should you, too?
23 Nov 2021