Sector movers: Lower oil price send shares both ways
Date: Monday 14 Jul 2008
LONDON (ShareCast) - Fuel-guzzling transport stocks are doing well, helped by the price of a barrel of crude slipping back well below $145. Crude oil for August delivery fell by $2.59 to $142.49 a barrel in electronic trading at the New York Mercantile Exchange. Cruise operator Carnival and British Airways are among the beneficiaries.
The lower crude price means that oil stocks are the main laggards of the day. Shell slips back, as does Tullow Oil, while BG Group is among the FTSE 100’s 10 worst performers despite being in positive territory.
Top performing sectors so far today Industrial Transportation 2,146.10 +4.85%
Life Insurance 3,891.70 +4.63%
Banks 6,029.30 +4.38%
Travel & Leisure 4,022.70 +4.17%
Bottom performing sectors so far today Oil & Gas Producers 7,874.90 -0.48%