News Column

Lloyds and Centrica pull down FTSE but Shell prevents rout

August 1, 2014

BRITAIN'S top equity index yesterday fell as Lloyds Bank pulled down financial stocks, while concerns about the impact on Europe from tensions between Russia and Ukraine also made traders wary.

The blue-chip FTSE 100 index closed down by 0.6 per cent, or 43.33 points, at 6,730.11 points.

Shares in Lloyds, which had risen for the past seven sessions, fell 2.83 per cent to 74.25p and weighed on other financial stocks, with the FTSE 350 Banking Index retreating by 1.2 per cent.

BG lost its early gains, ending down 0.72 per cent at 1,172p after it reported an 11 per cent increase in second quarter profits, but warned of slowing production and risks to its operations in Egypt.

Centrica, the owner of British Gas, closed 1.65 per cent lower at 309p as first half profits fell 35 per cent.

But Royal Dutch Shell put on 2.7 per cent to close on 2,555.50p after the oil giant said its second-quarter profit more than doubled as it benefited from higher liquid-petroleum prices and higher prices for specific products.

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Source: City A.M. (UK)

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