BP, Shell Fall Weigh on FTSE as Index Slides to 10,490.5
BP•The FTSE 100 dipped to 10,490.5 in early trading as energy and mining stocks weighed on the index. BP joined Shell and Rio Tinto among leading fallers, offsetting a defence rally led by Rolls-Royce and a weaker pound following persistent inflation figures.
1. FTSE Opens Near Flat
London’s FTSE 100 opened six points higher but turned negative by mid-morning, falling almost four points to 10,490.5 as energy, mining, utilities, and tobacco sectors declined while defence and aerospace stocks led gains.
2. BP Among Morning Fallers
BP traded among the early laggards alongside Shell and Rio Tinto, contributing to sector weakness as oil prices eased. A weaker pound after steady inflation in May supported defence exporters but failed to lift the broader index.
