Shell Shares Fall with Oil Stocks as FTSE 100 Slips to 10,490.5
SHEL•Shares of Shell slipped alongside BP and Rio Tinto as falling oil and mining stocks dragged the FTSE 100 down by nearly four points to 10,490.5. The rise in defence and aerospace names, led by Rolls-Royce, failed to offset the commodity sector slump.
1. FTSE 100 Performance
The FTSE 100 opened marginally higher by about six points but slipped to 10,490.5 by mid-morning as oil majors including Shell, BP and Rio Tinto underperformed. Shell’s share decline contributed to the index’s near four-point pullback below its opening level.
2. Sector Breakdown
Defence and aerospace stocks, led for a second day by Rolls-Royce, posted gains that were largely offset by weakness in the oil, mining, utilities and tobacco sectors. The fall in the pound following steady inflation data also supported defensive names but failed to lift the overall market.
